New Delhi: The government has constituted a committee headed by R C Bhargava, Chairman of Maruti Udyog Limited, to review the functioning of the prestigious Indian Institutes of Management (IIMs). The committee has been asked to submit its report in six months.

Government has entrusted the task to Bhargava after S Venkitaramanan, a former RBI Governor, declined the offer on health grounds, Ministry sources said.

The terms of reference of the committee include review of present status of IIMs in fulfilment of their objectives, their expansion proposals during the 11th Plan, per student cost of various courses, availability of educational loans, scholarships and freeships to the students, their organizational and administrative structure.

The last such committee was set up in 1991.

Sources said the government has been examining the issue of bringing the IIMs under an umbrella legislation like the Institutes of Technology Act, which cover IITs, in order to empower them to award degrees to the students which they are not competent to do so at present.

Government has told Parliament that it was examining the issue of formulating a legislatioin for the IIMs on the lines of Institutes of Technology Act.

Source : PTI