The Union Cabinet, on Thursday, approved the establishment and operationalisation of the Indian Institute of Management (IIM) at Jammu in a transit/temporary campus at Old Government College of Engineering & Technology from the Academic Year 2016-17. The Cabinet meeting was chaired by Prime Minister Narendra Modi.
According to a release, the IIM Jammu project will involve a cost of Rs 61.90 crore in temporary campus for the initial four years from 2016 to 2020. The initial student intake for the Post Graduate Diploma Programme (PGDP) in Management will be 54, which will later be increased to a cumulative student strength of 120 in the fourth year.
The government will also take steps to set up a campus at Jammu and an out-campus in Kashmir region.
"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 of India, which will administer the Institute and will be responsible for establishment and operationalisation of the Institute," stated the release.
IIM Jammu, along with modernisation of NIT Srinagar and opening two new AIIMS, is expected to go a long way in meeting the requirement of high quality living and education in Jammu & Kashmir.At present, there are 19 IIMs. Of these, 13 IIMs are located at Ahmedabad, Bengaluru, Kolkata, Lucknow, Indore, Kozhikode, Shillong, Ranchi, Raipur, Rohtak, Kashipur, Trichy, Udaipur. Another six IIMs, which started in 2015, are located at Amritsar, Sirmaur, Nagpur, Bodhgaya, Sambalpur and Vishakhapatnam.