The Indian government has approved four new IIMs (Indian Institute of Management) in four cities in India. A total amount of Rs 6,000 crore has been sanctioned for this purpose.
Rs 451 crore has been allocated by the government as non-recurring expenditure for setting up the new IIMs and Rs 118 crore has been allocated as recurring expenditure for the first phase.
The four cities are Trichurapally (Tiruchi / Trichy) in Tamil Nadu, Ranchi in Jharkand, Raipur in Chhattisgarh and Rohtak in Haryana. Initially, the new IIMs would all operate from temporary premises. Classes would begin in the academic year of 2010-11.
IIMs are also approved for the states of Rajasthan, Jammu and Kashmir and Rajasthan.
We have always found the debate over reservations for institutions like AIIMS, IIT and IIM ridiculous. There is such a high demand for high quality education institutions that the solution is to increase the size of the pie, not to divide the pie into even smaller pieces, leading to a mad scramble and raised tempers for a seat.
Admissions to the new IIMs would be through a common entrance test. In the initial phase, 140 students would be admitted, and that would be raised to 560 in the second phase.
Hopefully, the new IIMs would help students in more states to have access to the high quality education in IIMs.
The governments of Tamil Nadu, Jharkhand, Chhatisgarh and Haryana, where the new IIMs would be coming up in the first phase have already identified the land.
Media has reported that Chhattisgarh government has already identified 200 acres for the Raipur IIM campus, while the Haryana government has marked 170 acres for its Rohtak IIM campus.
For the IIM at Tiruchirapaly, the Tamil Nadu government has identified 192.35 acres and 214 acres of land for the Raipur IIM in Jharkhand has also been finalised.