The Union Cabinet has given its go ahead to establishing of permanent campuses for seven new Indian Institutes of Management (IIMs), namely in Amritsar, Bodh Gaya, Nagpur, Sambalpur, Sirmaur, Vishakhapatnam and Jammu.
Presently functioning from transit campuses, these IIMs were established in 2015-16 and 2016-17.
“The Union Cabinet chaired by Prime Minister Narendra Modi has approved the establishment and operationalisation of permanent campus of seven new Indian Institutes of Management (IIMs),” said a government statement.
Each of these IIMs will be constructed in an area of 60,384 Square meter and have complete infrastructural facilities for 600 students.
Recurring grants to these institute has also been okayed at Rs 5 lakh per student annually for five years. Thereafter, the institutes are expected to meet their running cost /maintenance cost from the internal generation of funds.
The construction of these IIMs’ permanent campus¸ according to the government statement, is likely to be completed by June, 2021. With this, all the 20 IIMs will have their permanent campuses.
It may be noted that the registration for CAT 2018 is also currently going on. Aspirants can register themselves till September 19, 2018 at 5:00 pm. CAT is the preliminary exam for admission to IIMs.