The project will involve a cost of Rs. 61.90 crore in the temporary campus, for the initial four years from 2016 to 2020. The student intake in the Post-Graduate Diploma Programme (PGDP) in Management this year is 54, which will progressively go up to a cumulative student strength of 120 in the fourth year.
Meanwhile, steps would also be taken to set up a campus in Jammu and an out-campus in the Kashmir region. The Detailed Project Report for the permanent campuses is under preparation and the process for setting up the campuses would start thereafter.
The Cabinet also approved formation of an IIM Jammu Society under the Societies Registration Act, 1860. IIM Jammu will be run and managed by the Society with a Board of Governors (BOGs) to be constituted by the Government of India, which will administer the institute and would be responsible for establishment and operationalisation of the institute.
At present, there are 19 IIMs. Of these, 13 IIMs are located in Ahmedabad, Bengaluru, Kolkata, Lucknow, Indore, Kozhikode, Shillong, Ranchi, Raipur, Rohtak, Kashipur, Trichy, Udaipur. Another six IIMs, which were started in 2015, are located at Amritsar, Sirmaur, Nagpur, Bodhgaya, Sambalpur and Visakhapatnam, it added.
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