The Economic Times daily newspaper is available online now.

    7 new IIMs to get permanent campus by June 2021

    Synopsis

    The IIMs at Amritsar, Bodh Gaya, Nagpur, Sambalpur, Sirmaur, Vishakhapatnam and Jammu were established in 2015-16/2016-17.

    IIM-bccl
    The construction of permanent campus of these institutes will be completed by June, 2021. With this, all the 20 IIMs will have their own permanent campuses.
    NEW DELHI: The government on Wednesday cleared a proposal for the establishment of permanent campuses of seven new Indian Institutes of Management (IIMs) by June 2021, at a cost of over Rs 3,775 crore.

    These IIMs were established between 2015-16 and 2016-17. At present, they are functioning from transit campuses.

    "The Union Cabinet chaired by Prime Minister Narendra Modi has approved the establishment and operationalisation of permanent campus of seven new Indian Institutes of Management (IIMs)," said a government statement.

    The institutes are in Amritsar, Bodh Gaya, Nagpur, Sambalpur, Sirmaur, Vishakhapatnam and Jammu.

    The total cost is assessed as Rs 3,775.42 crore, out of which Rs 2,804.09 crore will be spent for the construction of permanent campuses.

    Each of these IIMs will be constructed at an area of 60,384 sqm, which will have complete infrastructural facilities for 600 students in each IIM, the statement said.

    Recurring grants to these institute has also been approved at Rs 5 lakh per student per year for five years.

    Thereafter, the institutes are expected to meet their running cost and maintenance cost from the internal generation of funds, it said.

    The construction of permanent campuses of these institutes shall be completed by June 2021, the statement said.

    With this, all the 20 IIMs will have their own campuses.

    The IIMs will provide education to students to enable them to become professional managers. The approval will promote economic and industrial development of the country, the statement said.


    (You can now subscribe to our Economic Times WhatsApp channel)
    (Catch all the Business News, Breaking News Budget 2024 News, Budget 2024 Live Coverage, Events and Latest News Updates on The Economic Times.)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    ...more

    (You can now subscribe to our Economic Times WhatsApp channel)
    (Catch all the Business News, Breaking News Budget 2024 News, Budget 2024 Live Coverage, Events and Latest News Updates on The Economic Times.)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    ...more
    The Economic Times

    Stories you might be interested in