New Delhi, June 25, 2015: The union cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved the proposal to set up six new Indian Institutes of Management (IIMs) across the country.
The new IIMs would come up at Vishakhapatnam (Andhra Pradesh), Bodh Gaya (Bihar), Sirmaur (Himachal Pradesh), Nagpur (Maharashtra), Sambalpur (Odisha) and Amritsar (Punjab).
"These new IIMs will begin functioning from assigned temporary campuses and shift to their permanent sites after construction of their campuses is completed," IT and Communications Minister Ravi Shankar Prasad told the media after the cabinet meeting.
He said it was intended that the six new management institutes will commence their first academic session from 2015-16.
Each institute will start with an intake of 140 students in the Post Graduate Programme (PGP) courses, Prasad said, adding that the annual intake will increase to reach a level of 560 students each year by the end of seven years.
Admission to the post-graduate programme in management, which would be the flagship programme of these institutions, will be through the Common Admission Test (CAT) being conducted by the IIMs.
Finance Minister Arun Jaitley in his 2015-15 budget speech made a commitment to establish five new IIMs in Bihar, Himachal Pradesh, Maharashtra, Odisha and Punjab.
In addition, the reorganisation of the state of Andhra Pradesh into the two states of Andhra Pradesh and Telangana has necessitated the setting up of an IIM in Andhra Pradesh.