Bihar will get an Indian Institute of Management, joining the select league of states that have both an IIT as well as the premier B-school.
This was announced today by Arun Jaitley in his maiden budget, bringing much cheer to the educational fraternity in the state.
Jaitley also announced a textile cluster for development of weavers in Bhagalpur, development of Gaya as a heritage city and major tourism centre, fund for cleaning and beautification of Patna’s ghats, a plan for the development of waterways that would pass through the state and inclusion of Bihar in the Amritsar-Calcutta industrial corridor, as part of which an industrial smart city would be set up in the state.
An IIM for Bihar would be a huge impetus for the state, which, at present, cannot boast of a national level management institution. The only one of national repute in undivided Bihar, XLRI-Jamshedpur, went to Jharkhand’s kitty in 2000.
The then Nitish Kumar government did start a new B-school, Chandragupt Institute of Management Patna, but this is yet to catch the imagination of top management aspirants.
“Joining an IIM happens to be the dream of any management aspirant and having one such institution would be a boon because one may get a chance to study in an IIM without having to leave the state,” said Tushar, a student who aspires to study management after graduation.
Academicians said the presence of an IIM would augur well for Bihar.
“The announcement of a new IIM in the state will boast student confidence. The budget also talks about funds for setting up of virtual classes. In Bihar, where there is a lack of teachers, this move will help students,” R.P. Upadhyaya, pro-vice-chancellor of Nalanda Open University, told The Telegraph.
Industrialists praised the budget.
“The budget promises the constitution of committees for the development of MSMEs (Micro Small and Medium Enterprises) which will definitely help Bihar entrepreneurs in a big way. The state has got a large number of small and medium scale industries,” said chartered accountant and industrialist P.K. Agrawal. “The inland waterway from Allahabad to Haldia will have around 500km passing through Bihar.”
Industrialist and chairman of the PHD Chamber of Commerce and Industry, Satyajeet Kumar Singh, too hailed the budget.
“The budget promises promotion of FDI in defence production besides many other sectors. It will raise the overall investment atmosphere. Bihar will not be left out from the benefits of FDI. It will augment employment opportunities across the country,” he said.
The state BJP patted Jaitley. “Bihar figures five times for the first time in the union budget. Our opponents are frustrated because they can hardly find the so-called bitter pill in the budget, which encompasses all sections of the society,” BJP leader Sushil Kumar Modi said.
The JDU and RJD rubbished the budget.
“The budget speech was long but its contents hardly offered anything new. It has grossly neglected the interests of Bihar as places like Rajgir and Vaishali have been ignored while drawing up the Buddhist circuit. The ruins of the ancient seat of learning at Nalanda, which is battling to become a world heritage site, and the Nalanda University too have failed to find mention in the budget,” former chief minister Nitish Kumar said. “The budget lacks vision and direction.”
Lalu Prasad joined Nitish in slamming the budget. “It is a most confusing budget that sullies the interests of Bihar,” Lalu said. “How can the country prosper when Bihar is ignored?”