New Delhi, Nov 26 (UNI) A four-member committee headed by former Maruti Udyog Limited managing director R C Bhargava is reviewing the functioning of India's ace management schools, Parliament was told today.
The Review Committee on Indian Institutes of Management has been assigned an 11-point terms of reference, Minister of State for Human Resource Development D Purandareswari said.
In a written reply in the Rajya Sabha, Purandareswari said the government was examining the possibility of formulating a legislation for the IIMs on the lines of the Institute of Technology Act, 1961.
Chaired by Bhargava, the IIM Review Committee includes two members and a member-secretary.
They are IIM Calcutta board of Governors chairman Ajit Balakrishnan, retired Deputy Comptroller and Auditor General and HRD Higher Education Joint Secretary Ravi Mathur, respectively.
The Terms of Reference are to review: -- The present status of IIMs in fulfilment of their objective as centres of excellence in management education and research; -- The courses the IIMs offer in light of their relevance and national priorities; -- Their organisational and administrative structure and suitable changes necessary to better serve India's economic and social development needs; -- The IIMs expansion plans during the next decade, especially in the XIth Plan, optimally utilising existing capacities; -- The corpus fund position in each IIM and suggest norms for better fund utilisation; -- The per student cost on various courses being offered and to suggest guidelines for its proportionate recovery as fees, government grants, interest and so on; -- Measures for easy availability of educational loans to students; -- Availability of scholarships, fellowships, freeships and other financial assistance to students; -- Incentive schemes in various IIMs for faculty and non faculty staff and suggest suitable modifications; -- Powers and functions of IIM Board of Governors Chairman and make recommendations; and -- On any other aspects relevant to the IIMs' effective and efficient functioning.
She was answering a question asked by Janata Dal (Secular) Member M A M Ramaswamy from Karnataka.