The Ministry of Human Resource Development has forwarded the draft of the IIM Bill, which would provide these premiere management institutions powers to grant degrees, to the Law Ministry for vetting.
Sources said the objective of the bill is to allow the Indian Institutes of Management (IIMs) award degrees instead of post-graduate diplomas, which is done at present.
The preparation of this Bill has seen a wide debate on various issues, including the status for autonomy to IIMs, an issue on which the Prime Minister's Office and the HRD ministry held different views.
There were reports that on certain aspects, including the composition of its Board of Governors, among others, different views were held in the PMO and the HRD ministry.
Sources said various aspects related to the Bill have been worked out and it is hoped that after scrutiny by the Law Ministry it would be ready to be sent to Parliament.
"The draft of the Bill is now with the Law ministry which will vet it," a senior official said.
