Thursday, October 14, 2010

IIMs can top up professors' salaries

The Indian Institutes of Management (IIMs) can physically go global now, and the premier management institutes' teachers can get salaries as per international standards. The Ministry of Human Resource Development (MHRD) has not only allowed them to set up campuses anywhere in the country and abroad after they amend their Memoranda of Association, but also given them the freedom to top up salaries from their own resources.

However, it could result in disparity in salaries across IIMs since only three institutes, Ahmedabad, Calcutta and Bangalore, have not been taking government funds except for expansion to accommodate 27% OBC (other backward classes) reservation.

An IIM functionary argued that top-up salaries should be based on tangible factors so that personal discretion of directors does not creep in. Of the 15 IIMs, 10 are operational now, and are fully dependent on the government for financial assistance.

In a slew of decisions that will further strengthen autonomy, IIMs have also been allowed to have a predominant role in the selection of directors, create posts within approved norms, acquire and dispose of property if it not funded by the MHRD, approve their own budgets and also manage the funds generated by them on their own.

In a meeting with chairpersons and directors of IIMs on Wednesday, HRD minister Kapil Sibal, while listing out various initiatives taken by the ministry, stressed that autonomy and accountability should go hand in hand. As for the appointment of directors, it was decided in principle that they will now be appointed through a process in which the board of governors of the IIMs will suggest three names to the government from which the one will be chosen. Currently, the ministry issues advertisements for the appointment of directors.

The meeting considered the reports of three committees set up in April on certain key issues. Discussions were held on the report of the panel constituted to recommend a new governance structure for IIMs.

Source: The Economic Times, October 14, 2010
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