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Interim Budget: UGC faces 60% cut, budget for school education increased

The University Grants Commission (UGC) has faced a budget cut this year with the Centre reducing its grant by over 60 per cent while the allocation for Indian Institutes of Management (IIMs) has been slashed for the second consecutive year. The budget for school education has been increased by over Rs 500 crore but the grant for higher education has been reduced by over Rs 9600 crore from the previous fiscal year's Revised Estimate (RE). In the interim budget for 2024-25 announced by Finance Minister Nirmala Sitharaman on Thursday, the funding for UGC has been brought down to Rs 2500 crore from the previous year's RE of Rs 6409 crore, a 60.99 per cent drop. The IIMs counted among the noted business schools in the country, have faced a cut in the budget for the second year in a row. Last year, the budget for IIMs was slashed from Rs 608.23 crore (RE) to Rs 300 crore. This year, the budget has been brought down further to Rs 212.21 crore from the Revised Estimate of Rs 331 crore. Th

PM Narendra Modi is likely to visit Odisha twice in Feb: Manmohan Samal

Prime Minister Narendra Modi is likely to visit Odisha twice in February, state BJP president Manmohan Samal said on Sunday. Modi, who is scheduled to visit Odisha's Sambalpur on February 3 and address a public meeting, may also visit the state capital on February 10 when the saffron party holds its national women's conference here, Samal said. "The party has decided to hold two women's conferences, one in Madhya Pradesh and the second in Odisha in February. The prime minister is likely to attend the women's conference in Odisha tentatively on February 10. The PM has given his consent to attend it", Samal said, adding that the details of the February 10 programme will be announced soon. He said around 25,000 women from 14 states are likely to attend the Mahila Samavesh, which is being seen as an attempt by the BJP to make a dent into the trusted women vote bank of Biju Janata Dal. Earlier in the day, Union Education Minister Dharmendra Pradhan who hails from Odisha had indicated ..

19,190 vacancies filled up in central universities, IITs, IIMs: Minister

The minister said that the number of vacancies in various faculty cadres is dynamic depending on recruitment, resignation and student strength

IIM CAT 2023 results to be announced soon, check the details below

The IIM Institute will announce the CAT results very soon. The answer key was released on December 5, 2023, and the exam was held on November 26, 2023

Over 13,600 SC, ST and OBC students dropped out of IITs, IIMs in 5 yrs: MoE

Over 13,600 reserved category students dropped out from central universities, Indian Institutes of Technology (IITs) and Indian Institutes of Management (IIMs) over the last five years, Lok Sabha was informed on Monday. Union Minister of State for Education Subhas Sarkar shared the statistics in a written reply to a query by BSP member in Lok Sabha Ritesh Pandey. In the case of Central Universities (CUs), Sarkar said that as many as 4596 OBC, 2424 SC, and 2622 ST students dropped out in the last five years. In IITs, 2066 OBCs, 1068 SC and 408 ST students dropped out. In IIMs, the figure remained at 163, 188, and 91 for OBC, SC and ST students, respectively. "In the higher education sector, students have multiple options and they choose to migrate across institutions and from one course/programme to another in the same institution. "The migration/withdrawal, if any, is mainly on account of securing seats by the students in other departments or institutions of their choice or on any

IITs, IIMs advised to become multi-disciplinary, says Dharmendra Pradhan

Union Education Minister Dharmendra Pradhan on Sunday said that the Centre has advised IITs and IIMs to become multi-disciplinary to venture beyond their respective areas of specialisation. Pradhan, while speaking at the inauguration of Odisha Research Centre, said priority has been given to imparting multi-disciplinary education through the National Education Policy, 2020 and IITs and IIMs will also move in this direction. Odisha Governor Raghubar Das, his Chhattisgarh counterpart Biswa Bhusan Harichandan and Pradhan jointly inaugurated the centre here at an event. The centre will conduct research on art, culture, archaeology, tradition and literature, sociology of Odisha, political process and political culture, agriculture, commerce, business and industry, development trends of contemporary Odisha, science and technology and healthcare, and future technology. It will also work on smart cities, climate change, protection of the environment, sustainable development, semiconductors

IIM Bangalore test for admission to MBA courses on November 19, January 28

The last date for registration for the IIM-B test scheduled on November 19 is November 15 and the deadline for the second round is January 25. Applicants can take the tests from their homes

1st division mandatory in Bachelor's & Master's for IIM directors' post

The Centre has notified new norms for the appointment of directors of Indian Institutes of Management (IIMs), making it mandatory for applicants to have first class degrees in both Bachelor's and Master's, along with a PhD or equivalent from a reputed institute. Also, the President will now be a "Visitor" to the prestigious B-schools with powers to appoint chairperson of the board of governors, appointment and removal of directors and dissolving the board for not performing duties or complying with visitor's directions. Under the new rules, the eligibility for appointment as an IIM director now will be having a "distinguished" academic record with "first class degree in both Bachelor's and Master's level, and with PhD or equivalent from a reputed institute". Earlier, the criteria used to be a "distinguished academic with PhD or equivalent" and there was no mention of the required division for the degrees. Recently, there was a controversy over the appointment Dheeraj Sharma as ...

IIM Jammu, SIDBI to launch STEM programme for youth in J-K, Ladakh

Indian Institute of Management (IIM) Jammu and Small Industries Development Bank of India (SIDBI) have collaborated to offer a specialised one-year-long Skill to Enterprise Module (STEM) programme for students in Jammu and Kashmir, and Ladakh, according to an official on Monday. The programme will commence in two batches starting on December 4 and December 19 at the Srinagar and Jammu campuses of the institute, the official said. It has been designed to equip the students with the necessary knowledge and guidance to start and grow their businesses in the future, the official added. It would provide comprehensive four weeks of residential training along with eight weeks of virtual training to help the participants develop an understanding of business management, compliance, finance, planning, and strategic aspects of a business, as per the official. "The programme will be particularly beneficial for those who have completed a technical course and possess a valuable skill set but lac

IIM Calcutta Board of Governors accepts Director Uttam Sarkar's resignation

Sarkar would continue as a professor in the MIS Group of the institute

IIM Lucknow bucks the job market trend, logs 100% summer offers

IIM Lucknow students secured 576 offers in diverse corporate roles

Tata Steel CEO TV Narendran new chairperson of IIT-Kharagpur's board

Tata Steel Ltd's CEO and MD TV Narendran was appointed the new chairperson of the board of governors of IIT-Kharagpur, a statement said. IIT-Kharagpur director VK Tewari said that as a man beholding technical and industrial supremacy, Narendran understands the needs of the society and the practical implications of industry-academia amalgamation with a technical institution. "We welcome TV Narendran as the new chairperson of the Board of Governors of IIT Kharagpur," he said. "We look forward to his able guidance, constructive ideations and supportive encouragement in reshaping this institute for its future aspirations," he added. Narendran has over 34 years of experience in the mining and metals industry, the statement said, adding that he is a mechanical engineer from NIT-Trichy and an MBA from IIM-Calcutta.

TMS Ep496: RBI policy rates, IIM autonomy, markets, licence raj

How long will RBI's wait and watch posture continue? Is the autonomy of IIMs in danger? How are markets reading into RBI's inflation revision? What is licence raj? All answers here

IIM (Amendment) Bill introduced in LS amid disruptions over Manipur issue

A bill to amend the Indian Institutes of Management Act, 2017 was introduced in the Lok Sabha on Friday amid disruptions by opposition members over violence in Manipur. Education Minister Dharmendra Pradhan introduced the bill after the House met following an earlier adjournment over the Manipur issue. When the chair asked whether Manish Tewari wanted to say something on The Indian Institutes of Management (Amendment) Bill, 2023 at the introduction stage, the Congress member raised the Manipur issue. Cutting short Tewari's remarks, the chair moved ahead and the bill was introduced by a voice vote amid din. The bill will come up for consideration and passage next week, Minister of State for Parliamentary Affairs Arjun Ram Meghwal informed the House on Friday while listing out government business for next week.

MCD school principals to train at IIMs to 'revolutionise' education: Atishi

Principals of Municipal Corporation of Delhi (MCD) schools will undergo leadership and management training at IIMs to "revolutionise" primary education in the city, Delhi Education Minister Atishi announced on Tuesday. She told a press conference that the first batch of 50 principals will be sent to the Indian Institute of Management (IIM) in Ahmedabad on June 29 for a week-long training programme. There are around 1,700 MCD-run primary schools. On the tenure of the BJP in the MCD, the Aam Aadmi Party (AAP) leader said primary education in MCD schools was deplorable, and this impacted higher education of students. "We have decided to transform the education system by introducing the training at IIMs for principals of MCD schools," said Atishi, whose party won the last year poll to the civic body, wresting control from the BJP after 15 years. "We have given world-class training to principals of Delhi government schools. We have also started a series of world-class training. The best

Setting sights on intl students, IITs, IIMs make plans for foreign campuses

IIT Madras is in active discussions to set up a campus in Zanzibar, Tanzania, and IIM Nagpur is planning to set up a campus in Singapore

IIM-A incubation platform to invest in 50 new start-ups over a year

CIIE.CO says it has a record of helping 1,200 start-ups and investing in 350 of them

FT global MBA 2023 ranking: ISB retains Indian B-school top spot

The Post Graduate Programme (PGP) from ISB continues to be ranked No. 1 in India in the FT Global MBA Ranking 2023

Union Budget 2023-24: Funding for IIMs brought down to Rs 300 crore

The Indian Institutes of Management (IIMs), which are counted among the noted business schools in the country, have faced a budget cut this year with the Centre reducing their grant by half. The top institutes, however, believe that the move might hurt new IIMs but not the second or first generation IIMs. There are 20 IIMs across the country. In the budget for 2023-24 announced by Finance Minister Nirmala Sitharaman on Wednesday, the funding for IIMs has been brought down to Rs 300 crore from the previous fiscal year's Revised Estimate (RE) of Rs 608.23 crore, a 50.67 per cent drop, even when the net budget for the fiscal year 2023-24 rose by 8 per cent amounting to Rs 44,094 crores for the higher education sector. According to the Budget Estimates (BE) for 2022-23, the IIMs were allocated an amount of Rs 653.92 crores. According to IIM Udaipur Director Ashok Banerjee, the government might be sending signals to IIMs to be more innovative in funding their growth plans. "The cut in

Over 11,000 faculty vacancies in central uni, IITs, IIMs: Education Min

Over 11,000 faculty positions are vacant in central universities, IITs and IIMs across the country, according to Ministry of Education (MoE) statistics. The data was shared by Union Education Minister Dharmendra Pradhan in a written reply in Lok Sabha. In 45 Central Universities, a total of 6,180 posts of Professor, Associate Professor and Assistant Professor, out of 18,956 sanctioned posts are vacant. Similarly, in Indian Institutes of Technology (IITs), a total of 4,502 posts out of 11,170 sanctioned posts are vacant. In Indian Institutes of Management (IIMs), 493 posts out of 1,566 faculty posts are vacant. "Occurrence of vacancies and filling thereof is a continuous process. Central Universities are autonomous bodies, established under respective Central Acts. Their recruitment procedure is formulated by their statutory bodies in accordance with their acts, statues, rules and UGC regulations or guidelines," Pradhan said. The Minister further said that he has directed all High