There is good news for MBA aspirants who are giving their CAT to get into IIM. The Indian Institute of Management, Ahmedabad (IIMA) is planning to add 800 seats under an expansion plan suggested by the government.
In a proposal submitted to the government, IIM - A plans to increase from 860 to at least 1,200 seats in its ostentatious two-year MBA course, the post-graduate programme (PGP) in management.
Also, in the post-graduate programme for executives (PGPEX), fellow programmes and other similar courses another 400 seats would be added, it is learnt. The time taken for the expansion might go up to five years after obtaining the approval from the government.
Currently there are 1,100 students in IIM-A. The proposal has come after the Human Resources Development (HRD) Ministry urged IIM to admit more students into their batches. "IIMs are willing to expand and have submitted their proposals to the ministry last year. It is much more practical to strengthen the existing IIMs that are already a brand name rather than concentrating on constructing new ones," a ministry official said.
The expansion would happen in a phased manner over three years, IIM-A would add seats to PGP. In the next two years, PGPEX and other courses would do the same.
There are 20 IIMs in the country which are autonomous but depend on government aid. Newly added colleges to the existing list of IIMs likethe ones in Amritsar and Ranchi are finding difficulty to get faculty and improving their hostel and infrastructure facilities.
Earlier, last year in September, Human Resource Development (HRD) Minister Prakash Javadekar had announced that IIMs would double the number of students, as he also talked about improving hostel facilities, hiring new faculty, and more research. However, funds from the Ministry play an important role in improving the facilities of the colleges.
Sources said in case the ministry can't bankroll the expansion, IIMs would be asked to raise money through higher education financing authority, a non-banking corporation that offers affordable loans to educational institutions for infrastructure and research.
Also, Javadekar-led IIT council recommended increasing the seats in the premier engineering institutes to 100,000 by 2020.