Top B-School Goa Institute of Management to get private university status
PANAJI
The Goa Cabinet led by Chief Minister Pramod Sawant on Wednesday approved a series of key decisions, including a loan interest waiver for Scheduled Caste (SC) and Other Backward Class (OBC) beneficiaries, the introduction of the Goa Institute of Management (GIM) Private University Bill, 2026, and post-facto approval of major expenditures, including Rs 16 crore spent on Birsa Munda anniversary celebrations.
One of the most significant decisions was the waiver of Rs 3.20 crore in accumulated interest of loans taken by nearly 500 SC and OBC beneficiaries through the SC & OBC Corporation more than two decades ago.
Many of these beneficiaries, who had borrowed small sums ranging between Rs 5,000 and Rs 10,000, failed to repay the principal and interest, leading to legal proceedings against them.
With the Cabinet’s approval, they will now be required to repay only the principal amount, offering long-awaited relief to families burdened by the debt.
In another major development, the Cabinet cleared the Goa Institute of Management Private University Bill, 2026, which will be tabled in the upcoming session of the Goa legislative Assembly.
The Bill seeks to grant private university status to GIM, which has been operating from a transit campus in Sanquelim. Sawant said the upgrade would provide GIM greater academic and administrative autonomy, enabling it to expand its programs and strengthen its position as a premier B-school.
The Cabinet also granted post-facto approval for expenditure of Rs 16 crore incurred on the Birsa Munda birth anniversary celebrations held recently. The event, which commemorated the tribal freedom fighter, was marked by large-scale cultural and awareness programmes.
Additionally, Rs 4.5 crore spent on works at Ravindra Bhavan, Margao, also received post-facto clearance.
In another decisions, the cabinet approved enhancing the 'sanctioned staff' strength of the Settlement and Land Records department providing it with 150-odd more ground surveyors and an additional post of an Additional Director.
