Indian institute of Management (IIM) Jammu will start functioning from this year with the Union Cabinet giving its approval.
The Cabinet meeting on October 13 also approved the intake of 54 students for the first batch of Post Graduate Diploma Program (PGDP) in Management 2016-18, an official statement said.
Earlier, in June this year, the Ministry of Human Resource Development (HRD) had designated IIM Lucknow as mentor for IIM Jammu. IIML conducted the admission process and took in 54 students. Preparatory classes for the first batch of IIM Jammu were held in Noida campus of IIM Lucknow in August.
“We have already started the academic session because the announcement for its operational from 2016-17 session was made in the budget itself,” HRD Minister Prakash Javadekar said.
IIM Jammu will be the 20th in the list of Management Institutes set up by the Government all over the country. Initially, it would start functioning from a temporary campus at the Old Government College of Engineering & Technology.
The IIM project will involve a cost of Rs.61.90 crore for the initial four years from 2016 to 2020. It would progressively go up to reach a total strength of 120 in the 4th year. The Cabinet, at its meeting on October 13, also gave permission for setting up the main campus in Jammu and an out-campus in the Kashmir region.
The Detailed Project Report for the permanent campuses was under preparation. Once it is completed, the process for setting up of the campuses would begin. The Cabinet also approved formation of an IIM Jammu Society under the Societies Registration Act, 1860.
IIM Jammu will be run and managed by the Society with a Board of Governors (BOGs) to be constituted by the Government. The Society will administer the Institute and would be responsible for its establishment and operationalisation.
At present, there are 19 IIMs. Of these, 13 are located at Ahmedabad, Bangalore, Calcutta, Lucknow, Indore, Kozhikode, Shillong, Ranchi, Raipur, Rohtak, Kashipur, Trichy and Udaipur. Another six IIMs started in 2015 are located at Amritsar, Sirmaur, Nagpur, Bodhgaya, Sambalpur and Vishakhapatnam.
