IIMs Now Rejoice Under the Newly Bestowed Title of Autonomy Date:   Monday , February 27, 2017 A four-year debate finally reached its conclusion when the Union Cabinet recently passed the Indian Institute of Management (IIM) Bill, 2017, under which 20 IIMs would be granted autonomy and be bestowed upon with the status of ‘Institutions of National Importance’ like the IITs, NITs and AIIMS. This would also give them the authority to grant degrees, instead of diploma, to their students that would now be considered at a global level. This move garnered approval from the management and student body as this will put its students at par to those at other reputed business schools. The bill will also grant absolute autonomy to IIMs that would limit the inclusion of the government in the institute’s decision making. Unlike in the IITs, IIMs will now be free to decide on the fee and expansion without any government say in it with addition to a coordination forum that would merely play an advisory role. The President, who is a visitor of IITs, NITs and other central government institutes, will have no direct role in the affairs of the IIMs. The autonomy grants power but not without accompanying with it ‘adequate accountability’. This equals to a periodic review of performance of these institutes by independent agencies which will put them under the public domain and scrutiny as well. The reports submitted by the institutions will be placed in the Parliament and CAG will audit their accounts. Students however, welcome this move with open arms as earlier, being awarded with diploma courses would subject the student to further verification by the global B-Schools for further studies.