Indian Statistical Institute Bill repeals 1959 Act, creates not-for-profit body corporate

This Bill aims to incorporate the Indian Statistical Institute (ISI) as a body corporate to strengthen its governance and align its legal framework with the needs of India's data-driven economy. It seeks to establish ISI as a globally recognized center for statistical sciences, research, and training to support evidence-based decision-making.

The Indian Statistical Institute (ISI), its employees, students, and faculty. It also affects the Central Government (which provides grants and can issue directions) and the Board of Governors, Academic Council, and other governing bodies of the Institute.

• Incorporates the existing ISI as a body corporate with perpetual succession and a common seal.
• Transfers all properties, rights, debts, liabilities, and employees from the existing society-registered ISI to the new corporate entity.
• Establishes a governance structure including a Board of Governors, Academic Council, Management Council, Director, and Visitor.
• Grants the Institute powers to set up centers and campuses in India and abroad, grant degrees, and promote start-ups.
• Allows the Institute to generate revenue through fees, grants, and investments, subject to specific rules for property disposal and fund management.
• Mandates that the Institute be open to all persons irrespective of gender, race, creed, caste, or class, with admissions based on merit.
• Designates the Institute as a public authority under the Right to Information Act.

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