The Institute is administered by a Society and a Governing Body. The Governing Body is currently headed by the distinguished scholar and an administrator Professor Chandrakala Padia. The members of the Society and Governing Body are drawn from different walks of life. The Institute has a statutory Finance Committee which includes representatives from the Ministries of Education and Finance, to advise the Governing Body in financial matters. The Institute is headed by a Director, who is assisted by a Secretary in administrative, financial and academic matters. There is also a Librarian, an Accounts Officer, a Publication Officer, and a Public Relations Officer, and other supervisory and support staff. The Institute is financed primarily by the Ministry of Human Resource Development, Government of India. It has some income from the sale of its publications, and the entry fee charged from the tourists. The annual expenditure of the Institute, which includes salaries, contingent expenditure, and maintenance of buildings and the library, is about eight crore of rupees. The expenditure on academic programmes like fellowships, seminars, lectures and publications is provided in the Plan estimates of the Institute and varies from year to year.