Apart from enviable pay packets, future managers will pass out from the iconic Indian Institutes of Management (IIMs) with degrees instead of diplomas, if a human resources development ministry-appointed panel has its way.The six-member panel, headed by Professor N R Madhava Menon, has recommended bringing in an overarching legislation governing all IIMs, allowing them to award degrees without “any erosion of their existing autonomy”. Unlike central universities and IITs, the top B-schools (IIM’s) currently award only diplomas. The proposal is yet to be vetted by the ministry. The Menon Committee has recommended flow of liberal grants to both new and old IIMs to enhance their level of academic activities to global standards, and funding of doctoral students.
This comes as a very good news for people planning to do their further studies in India itself from IIM’s. Also, now one can achieve a management degree without spending an obnoxious amount of money on studying abroad. The panel has proposed setting up three new wings in every central educational institution — an office of research and integrity that’ll fund advanced research and maintain standards; an office of ombudsman to intervene in crisis situations and an Equal Opportunities Cell to ensure inclusiveness.
Let’s hope that for the sake of the students this proposal is accepted soon!!!
Also do check out list of Top B Schools in India 2011.