Government of Tamil Nadu enacted the Madras School of Economics Act (25) of 2020 in the Tamil Nadu Legislative Assembly and issued the ordinance to empower MSE as a degree awarding institute in Economics and its allied subjects, and management. As per the Act, the Madras School of Economics (Institute of Special Importance) has emerged with effect from April 01, 2021. The UGC has included MSE under Section 22 of the University Grants Commission Act, 1956. With effect from the Academic year 2021-22, MSE will be independently offering 5 M.A Programs (in General Economics, Financial Economics, Actuarial Economics, Applied Quantitative Finance and Environmental Economics), and Ph.D. Programs in Economics and allied subjects, and will be awarding the degrees as per the MSE Act 2020. MSE continues to offer the PGDM program as approved by AICTE. MSE plans to convert the PGDM programs in to MBA programs soon. MSE has plans to start new academic programs in the coming years.