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The principal is the pivot of an education institution around which all the activities and the affairs of the institution revolve. Being at the helm of the affairs he shows the right direction both to the students and the faculty of the college. Acting as a philosopher and guide to the stakeholders of the college he imbues them not only with knowledge but also with the right kind of value system that keeps them in good stead when they go out of the college and seek their livelihood. This is more so the case with the principals of B.Ed. colleges because it is the student teachers who in the later years go out into the world and teach and spread effectively the knowledge and the value system that they have picked up in the B.Ed. college where they have pursued their teacher education. The principals of these B.Ed. colleges must possess the right kind of leadership qualities and must be worthy of emulation both by the student teachers and the faculty of the college. They must be effective decision-makers and must be fountainheads of motivation and communicators par excellence. They must be an erudite scholars endowed with persuasive skills to encourage both the faculty and the students of the college to have an ever-lasting appetite for imbibing knowledge. The principals of B.Ed. colleges should be awash with an unflagging adventurous spirit and an experimental attitude toward their problems. Managerial effectiveness of Principals is one of the major and probably the most predominant and decisive factors contributing towards B.Ed. college effectiveness. Highly successful B.Ed. colleges are driven by highly effective Principals. In this era of knowledge explosion which is bringing about a paradigm shift in technologies and pedagogies for imparting meaningful instruction to the knowledge seekers, the role and responsibilities of the principal are highly crucial and demanding and are growing by the day. Reformers of education may conceive of new ideas, bring changes in structure and curriculum, recommend and prescribe novel teaching methods and aids, but in the end, it is only an effective principal who will be solely responsible and accountable for effectively applying them. In this backdrop the present research study throws light on the perception of the B.Ed. College lecturers foster regarding the managerial effectiveness of their Principals.