Section 21
Grants by Central Government.
The Indian Institute of Management Act, 2017
About this Act
An Act to declare certain Institutes of management to be institutions of national importance with a view to empower these institutions to attain standards of global excellence in management, management research and allied area of knowledge and to provide for certain other matters connected therewith or incidental thereto.
For the purpose of enabling the Institutes to discharge their
functions efficiently under this Act, the Central Government may, after due appropriation made by
Parliament by law in this behalf, pay to every Institute such sums of money in such manner as it may
think fit.