The Union Cabinet of India has given the green light for the establishment of permanent campuses for 7 new IIMs. These new additions will be set up at Amritsar, Jammu, Visakhapatnam, Nagpur, Sambalpur, Bodh Gaya, and Sirmaur. Until now from when they were set up in 2015-16 and 2016-17, these institutions were functioning from transit campuses.
These new structures will be built with a blueprint of accommodating 600 students in each IIM over an area of 60384 square kilometers with complete infrastructural facilities.
These institutions have also been accounted for recurring grants. For every student every year for the next 5 years, the government will be giving Rs. 5 lakh to help the IIMs meet their running expenses and maintenance costs on their own (internal funding).
The construction work is expected to conclude in June 2021, post which seven more IIMs will finally have permanent campuses.