IIMs plans steep fee hike

Sat, Jan 26 12:25 AM

Be prepared to shell out a huge premium to enter the country's premier B-schools. Three Indian Institutes of Managements (IIMs) are set to effect a big hike in fees from the next academic session.

Along with IIM-Ahmedabad and IIM-Bangalore, IIM-Calcutta too is all set to increase its course fee for the 2008-2010 academic session. While IIM-Ahmedabad students would face a steep hike, it seems that IIM-Calcutta and IIM-Bangalore would go in for moderate hikes.

IIM-Ahmedabad is expected to raise its fees to a whopping Rs 3 lakh for the 2008-2010 batch, compared to Rs 2 lakh now. IIM-Bangalore is likely to raise its fee from the present Rs 2.5 lakh to Rs 2.75 lakh.

IIM-Calcutta currently charges Rs 2 lakh from its post-graduate students per year and has decided not to go in for a big jump. IIM-C might hike the tuition fee by not more than Rs 25,000 to Rs 2.25 lakh.

In 2007, IIM-Calcutta raised its tuition fee from Rs. 1.75 lakh to Rs 2 lakh while IIM-Ahmedabad had raised its tuition fee from Rs 1.77 lakh to Rs 2 lakh.

But IIM-B chose to increase its fee by Rs 75,000 in 2007, from Rs 1.75 lakh to Rs 2.5 lakh. The final decision regarding fee hikes at all the IIMs will be taken by their respective Boards of Governors.

The IIM-Calcutta board will meet on February 26. But the institute is already examining several parameters to arrive at the exact amount to be increased.

Ajit Balakrishnan, chairman of the IIM-C board of governors is to discuss the proposed fee hike with the faculty and administration. The three IIMs have decided to increase their flagship two-year PGP programme tuition fee despite reservations being voiced by HRD ministry officials, who are slated to press for smaller hikes at the board meetings.

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