Nagpur IIM gets Rs 379 cr for campus development

Source: The Hitavada      Date: 07 Sep 2018 10:29:10


 

Staff Reporter,

There is a reason to smile for the people associated with Nagpur’s Indian Institute of Management (IIM) as Central Government has sanctioned Rs 379.68 crore for its campus development. Soon, it will be shifted to its own campus in MIHAN area. The Union Cabinet has cleared a proposal for seven new IIMs to have a permanent campus by June 2021. The new IIMs will have complete infrastructural facilities. Nagpur IIM is one of those seven institutions.


The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved a proposal to set up permanent campuses for seven new IIMs which were established in the academic years 2015-16 and 2016-17. The amount sanctioned by the Central Cabinet is Rs 3,775.42 crore. With this, all 20 IIMs in the country will have their own permanent campuses.


Each of the new IIMs will also get recurring grants of Rs 5 lakh per student per year for five years. After this, these institutes are expected to meet their running and maintenance cost themselves.


In a cut-throat competition, Maharashtra’s Chief Minister Devendra Fadnavis had brought IIM to Nagpur. The decision in that regard was announced in the Winter Session of Maharashtra State Legislature held at Nagpur. The IIM began its stint from the academic session 2015-16 in the campus of Visvesvaraya National Institute of Technology (VNIT) on temporary basis with Ashish Nanda as its mentor Director.


Fadnavis expressed happiness over the development and thanked the Central Government for speeding up the sanctioning process. Fadnavis Government had promised that within 2 years the money for the development of IIM Nagpur campus in MIHAN would be sanctioned and it was fulfilled now. Within three years of its existence, the officers at IIM Nagpur have taken the institute to a newer height. It not only excelled in academic activities but in extra-curricular too. It achieved 100 per cent placement for the second batch with highest domestic package of Rs 19 lakh. IIM Nagpur established its corporate connect, including the number of senior executives who interacted with students and number of companies that took part in placement processes. Currently, it’s intake capacity is 60 for its flagship Post Graduate course.


Government has already allotted 130 acres land in MIHAN for its infrastructure to be developed. Presently its area is secured by fence. It is estimated that the building will be ready by 2020 with the estimated cost is around Rs 650 crore.