Indian Institute of Managements were setup under recommendations of planning commission (1956) as autonomous institutes supported with government grant-in aids.
Source: http://www.desimba.in/op-ed/2012/07/soon-you-will-be-able-to-write-mba-from-iim-on-your-resume/
The act talks about setting up this institutes to impart management education to students and focuses on building managerial workforce in the country. The Act, however, does not talk about granting University status to the institutes. The IIT’s were formed under Institutes of Technology Act, 1961 and the act empowers the IITs to award degrees, diplomas and honorary degrees. For IIMs to award Degree’s to their students, GOI will have to amend the act under which the IIMs were setup. Doing so, is not impossible but it is definitely a time consuming task.
Read more at-
http://www.financialexpress.com/news/iims-may-get-nod-to-award-mba-degrees/955043/0Source: http://www.desimba.in/op-ed/2012/07/soon-you-will-be-able-to-write-mba-from-iim-on-your-resume/
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