The country will soon have seven new IIMs, of which four will start functioning from next year with the Union Cabinet on Thursday approving a HRD ministry proposal to set up these management institutes.
The new Indian Institutes of Management (IIMs) will be set up in Tami Nadu, Jharkhand, Chhattisgarh, Haryana, Jammu & Kashmir, Uttarakhand and Rajasthan.
Aimed at generating a highly competent and trained manpower, the institutes are also expected to act as a major catalyst for developing a knowledge society that would inevitably impact on the economic growth of the country.
In the first phase, four IIMs at Tiruchirappalli (Tamil Nadu), Ranchi (Jharkhand), Raipur (Chhattisgarh) and Rohtak (Haryana) will be set up in 2009-10, which would become functional from academic session 2010-11.
The IIMs in Jammu & Kashmir, Uttarakhand and Rajasthan will be set up in 2010-11.
In phase-I there would be an intake of 140 students in the PG course and by the end of phase-II, it would reach 560 students per year.
The 11th Five Year Plan endorsed by the National Development Council (NDC) in December 2007, envisaged establishment of seven new IIMs in the country.
With these new IIMs, the country will have 13 B-schools. The Centre has also established one IIM -- Rajiv Gandhi Indian Institute of Management (RGIIM) in Shillong -- which has commenced its first academic session from 2008-2009.
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