In the Monsoon session of Parliament, the Union cabinet, headed by Prime Minister Narendra Modi, convened on Wednesday 12 July, 2023 to approve three bills, as per sources familiar with the matter. These amendments have received the cabinet's approval subsequent to a thorough examination of the bill by the joint committee of Parliament, which subsequently submitted its report.

The initial bill proposed the inclusion of the National Institute of Industrial Engineering (NITIE) in Mumbai as the 21st Indian Institute of Management (IIM) by amending the IIM Act. The Union Cabinet has reportedly approved a proposed amendment to the Indian Institute of Management (IIM) Act. This amendment aims to establish a new IIM institute in Mumbai. This would give an IIM to Mumbai. In 1963, the government of India established the National Institute of Industrial Engineering (NITIE) in collaboration with the United Nations Development Programme (UNDP) and the International Labour Organisation (ILO). India presently has a total of 20 Indian Institutes of Management (IIMs) operating across the country.

According to the sources, the Union cabinet has also granted approval to amendments proposed for the Jan Vishwas Bill. This legislation is designed to modify outdated laws with the objective of enhancing the ease of living for the citizens. The Jan Vishwas bill intends to introduce amendments to a total of 42 laws across various sectors, including agriculture, environment, and media and publication. The proposed amendments aim to address and enhance various aspects within these sectors to promote better governance and facilitate a conducive environment for the public. As per PRS Legislative Research, the bill seeks to transform several fines into penalties, eliminating the need for court prosecution to impose punishments. Additionally, it eliminates imprisonment as a penalty for numerous offenses. Notably, all offenses under the Post Office Act, 1898, are being removed as part of this bill.

According to a functionary, a third bill that aims to amend the Mines and Minerals (Development and Regulation) Act has been approved. With the clearance of all three bills, they are now anticipated to be presented in Parliament for the process of passage. 

Since January 2018, under the current IIM Act, the 20 IIMs have been endowed with increased autonomy. The board of governors for each institute consists of 19 members, including a sole representative each from the central and state governments. The board is vested with the authority to appoint search panels responsible for selecting new directors and chairpersons. Subsequently, the board finalizes the appointments based on the recommendations put forth by the search panels. In the past, the responsibility of appointing IIM directors, chairpersons, and board members rested with the education ministry.

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