A Bill to provide for the incorporation of the Madras School of Economics (MSE) as an institution of special importance in the field of economics, its allied subjects and management was presented in the Assembly on Wednesday. MSE was set up in Chennai in 1993 as a charitable society under the Tamil Nadu Societies Registration Act, 1975, (Tamil Nadu Act 27 of 1975) and has since grown in stature as one of the most prestigious institutes for advanced study in economics, its allied subjects and management in the country, said Deputy Chief Minister O. Panneerselvam.
The State government had decided to recognise the institution as an institute of special importance and enable it to award its own degrees and diplomas as it played an important role in providing advice to the State government in matters relating to public finance. The government had decided to help the school set up a Centre for Public Finance to conduct research in public finance, provide policy suggestions to the government and run academic courses, Mr. Panneerselvam said.
The government has come up with the Madras School of Economics Act, 2020, which envisages making the school an institute with powers to establish regional centres, additional campuses and study centres in such places in the State as it deems fit, subject to the norms of the University Grants Commission and other regulatory bodies.
The Institute, headquartered in Chennai, is envisaged to be an advanced research centre that will impart knowledge in economics and allied subjects that will take up work entrusted by the State or Central governments or other government agencies, corporate bodies, in the field of economics, management, education and related subjects.
The self-financing institute will have a director, administrative officer, controller of examination, finance officer and deans, apart from officers as declared by the statutes of the institute. The institute will have a governing council, an executive council and an academic council.
DMK opposes MSE Bill
When Mr. Panneerselvam sought to move the Bill in the House, DMK legislator Palanivel Thiagarajan (Madurai Central) opposed the legislation in the introductory stage.
Mr. Thiagarajan questioned why just 35% of the seats in MSE were being reserved for students from Tamil Nadu, even though it was fully funded, and functioned on land owned by the State.
He also sought to know whether the reservation procedure followed by the State to ensure social justice was being followed at MSE.
Responding to the query, Mr. Panneerselvam said that though 35% seats in MSE were reserved for students from Tamil Nadu, they were free to compete for the remaining seats. The Deputy Chief Minister did not reply to the query on reservation in the institute. After a voice vote, the Bill was passed in the House.