Cabinet gives green signal for setting up IIM in Jammu

RSTV Bureau
File photo of Finance Minister Arun Jaitley.

File photo of Finance Minister Arun Jaitley.

As a part of Prime Minister’s development outreach for Jammu & Kashmir, Union Cabinet approved establishment of Indian Institute of Management (IIM) in Jammu. The Jammu IIM will be 20th in the country, at present, there are nineteen IIMs

Prime Minister lead Cabinet Committee on Economic Affairs approved the project involving Rs.61.90 crore for the initial four years from 2016 to 2020 on Thursday. A transit campus will be set up at the old Government Engineering College from the Academic Year 2016-17.

“The IIM, coupled with IIT at Jammu, modernization of NIT Srinagar & opening of 2 new AIIMS, one each in Kashmir region & Jammu region  would go a long way in meeting the requirement of high quality living and education in Jammu & Kashmir,” said Prime Minister’s Office in a statement

Union Ministry of Human Resources Development (HRD) had already signed a memorandum of understanding (MoU) with the Higher Education Department of the J&K Government for establishing an IIM at Jammu.

“According to the MoU, IIM-Lucknow will be the mentor institute for the IIM-Jammu acting through its Director, Department of Higher Education, MHRD,” a statement said.

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 would be responsible for establishment and operationalisation of the Institute.

Meanwhile, steps would also be taken up for setting up campus at Jammu and an out-campus in Kashmir region.

The Detailed Project Report for the permanent campuses is under preparation and thereafter the process for setting up of the campuses would start.