Edu-leaders

The Indian Institute of Management Calcutta (IIM-C) is against privatisation of the IIMs but favours corporate contributions to generate funds so that new management institutes se set up, a top official said.

"We are not in favour of privatisation of IIMs. We favour corporate contribution for new IIMs as they may not be in a position to generate resources adequately at least in the initial years," IIM-C's Chairman of the Board of Governors Ajit Balakrishnan said.

"It is possible to create a corpus outside the government. But entrepreneurs must be allowed to get full tax benefit of the total contribution," he said.

"Currently, Indian tax system does not allow us to create a corpus," he added.

Balakrishnan said the government should also allow tax reduction for a couple of years at the market value from income if a corporate institution contributed to any educational institute, as was done in the US.

IIM-C's Director Shekhar Chaudhuri said that the institute will soon launch an online general management certificate programme in collaboration with top financial schools.

Source: igovernment