Poonam Nath

IIM Guwahati Setup bill passes in Parliament, with capital support of ₹550 crore

Digital Desk: Following the bill's acceptance by the Lok Sabha on Tuesday, the Rajya Sabha on Wednesday approved a bill to establish an Indian Institute of Management (IIM) in Guwahati, with ₹550 crore in capital support from the Union government.

Union Education Minister Dharmendra Pradhan responded to the bill's discussion by stating that this will be the ninth IIM to be founded in the past ten years under the Narendra Modi-led administration.

"At an investment of ₹555 crore, the 22nd IIM in the country will be established in Guwahati," the minister announced.

He thanked Himanta Biswa Sarma, the chief minister of Assam, for his efforts in securing approval for the state's IIMs' establishment.

This will be the second IIM in the Northeast after Shillong. One of the projects included in the special development package given to Assam is the setting up of an IIM in Guwahati as a national institution.