Mr Sibal said a National Academy of Management would be set up on the lines of National Academy of Law and students of the institute would be provided with infrastructural and residential facilities of global standards.

He also announced to improve the quality of the Indian Institutes of Managements(IIMs) at par with International standard now the students would be given degrees instead of diplomas.

He, however, refused to take up any questions on the Indian Institute of Technology(IIT) single admission test row.

‘We took up several issues pertaining to improvement of quality of the IIM’s. The institutes will be handing out degrees instead of diplomas which will help in international acceptability of the institute since management institutes across the world give degrees instead of diplomas. This move will also help in increasing the mobility of the students,’ he said.

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