against privatization of IIMs but favors corporate contributions to
generate funds for setting up new management institutes, a top
official said.
"Under any circumstances, we are not in favor of privatization of
IIMs. We favor 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 on Saturday evening on the sidelines of the institute's 46th
annual convocation.
"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.
Earlier, speaking on the occasion, IIM-C director Shekhar Chaudhuri
said the institute will soon launch an online general management
certificate programme in collaboration with top financial schools.
"The IIM-C is providing full support to the new IIM Ranchi, which has
been set up six months ago. Most of the courses there are taught by
our faculty," he added. IANS
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