The HRD ministry is understood to have given its nod to AICTE's proposal for a single entrance exam for management aspirants, which would be held on the lines of Common Admission Test (CAT).
The Common Management Admission Test (CMAT) will replace the existing state level and national level entrance exams for management courses except CAT.
The test is scheduled to be held in February next year with over 2.5 lakh candidates expected to appear in it.
"The common entrance test will de-stress students who had to otherwise sit for multiple tests to get a seat in an institute of their choice," said a ministry official.
AICTE will make it mandatory for all recognised institutes to admit students only though CMAT.
The Association of Indian Management Schools and other bodies representing the private B-schools had earlier objected to CMAT which figured in an AICTE notification in December
At present, there are more than 4000 management schools in the country, offering close to 3.5 lakh seats.
CMAT would be a computer-based exam and is expected to have a three-hour duration.