Collateral will have to be furnished to get loans to pay the increased fee.
With the Indian Institutes of Management (IIMs) hiking their fees, many general category students will have to approach banks for educational loans. Most will also have to furnish collateral to get that all-important loan.
IIM-Ahmedabad, for instance, has almost trebled its fees to Rs 4 lakh to Rs 11.5 lakh. IIM-Kolkata has hiked it from Rs 5 lakh to Rs 7.5 lakh. Others like IIM Bangalore and IIM Lucknow have hiked it from Rs 5 lakh to Rs 8 lakh and Rs 4 lakh to Rs 5 lakh respectively.
Add to that another Rs 3-4 lakh for laptops, books and others expenses, and the effective expense rises by another 30 per cent .Students, therefore, need to shell out anywhere between Rs 9-15 lakh for a two-year course.
Students, therefore, need to shell out anywhere between Rs 9-15 lakh for a two-year course and would start with a loan that they need to pay-off to free their collateral, which was not the case earlier.
Though banks would be quite willing to provide loans to students studying in these institutes, the requirement for securities will increase. Till now, the maximum loan offered for studies in India was Rs 10 lakh.
There is no paperwork required for the initial Rs 4 lakh. After that, there needs be a guarantor for a loan up to Rs 7.5 lakh. Above this, some collateral is required.
According to RBI guidelines, for loans up to Rs 4 lakh, the interest rate should not exceed the prime lending rate (PLR). Above Rs 4 lakh, the interest rate charged is PLR plus 1 per cent.
For instance, Indian Bank offers education loan schemes up to Rs 10 lakh for graduate, postgraduate and professional education in India. The current rate of interest is 12.50 per cent for loans up to Rs 4 lakh and 13 per cent for an amount above that.
Amit Roy (name changed), who recently passed out of IIM Lucknow, took an education loan of Rs 7.2 lakh. Today, he is paying Rs 14,000 a month as equated monthly instalments (EMIs), which is around 20 per cent of his take-home salary. And he will continue to do so for the next 7 years. "Most of my colleagues are paying instalments now," he admits.
Therefore, even the crème-de-la-crème of students would start their careers with a loan in their balance sheets. Imagine getting the first salary cheque with an equated monthly instalment (EMI) deduction. Not that this is a new phenomenon. IIM students have had to resort to educational loans for a while now.
Rajeev Mishra (name changed), who has completed a year in IIM-Kolkata, took a loan of Rs 7.5 lakh from the State Bank of India last year. Similarly, there are many others who have taken loans. All of them believe their salaries will more than make up for the amount borrowed.
Banks over the years have been gearing up to meet the demands of aspiring IIM and IIT students because the repayment ability is there.
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Wednesday, April 30, 2008
Tuesday, April 29, 2008
Scholarships at IIM-A to pinch 20% of new fee
Effective fee to be Rs 8.4 lakh vis-a-vis the official Rs 11.5 lakh.
Even as the decision of the Indian Institute of Management, Ahmedabad (IIM-A) to implement the almost 190 per cent fee hike for the Post Graduate Programme (PGP) got flak from the HRD ministry, internal calculations done by the institute have revealed that taking into account need-based scholarships, the average fee for a student could be as low as Rs 4.2 lakh per year (Rs 8.4 lakh for two years).
IIM-A has proposed a fee hike from Rs 4 lakh to Rs 11.5 lakh for its two-year PGP this academic year.
Despite the fee hike, for the coming batch, nearly 65 per cent of students are expected to be covered under financial assistance which is expected to bring down revenues from fees for the institute.
IIM-A will implement the Other Backward Classes (OBC) reservation of 6 per cent (17 seats) this year, where the institute is set to offer a certain amount of fee waiver to all OBC students.
Even as the decision of the Indian Institute of Management, Ahmedabad (IIM-A) to implement the almost 190 per cent fee hike for the Post Graduate Programme (PGP) got flak from the HRD ministry, internal calculations done by the institute have revealed that taking into account need-based scholarships, the average fee for a student could be as low as Rs 4.2 lakh per year (Rs 8.4 lakh for two years).
IIM-A has proposed a fee hike from Rs 4 lakh to Rs 11.5 lakh for its two-year PGP this academic year.
Despite the fee hike, for the coming batch, nearly 65 per cent of students are expected to be covered under financial assistance which is expected to bring down revenues from fees for the institute.
IIM-A will implement the Other Backward Classes (OBC) reservation of 6 per cent (17 seats) this year, where the institute is set to offer a certain amount of fee waiver to all OBC students.
IIM-A to implement quota in phased manner
The Board of Governors of the Indian Institute of Management, Ahmdedabad (IIM-A), today decided to implement 27 per cent Other Backward Classes (OBC) reservation in phases, over the next three years.
"Six per cent OBC reservation will come into force from this academic year. In the second year, it will be increased to 15 per cent and in the third year, the entire quota of 27 per cent will be implemented," IIM-A Director Sameer Barua said.
Meanwhile, in other reports the Common Admission Test (CAT) for the management courses is likely to go on-line from the next year.
"We were planning to make Common Admission test (CAT) on-line from 2008, but since we have only eight months left for the test, it might not be possible this year. But it will be on-line from 2009," IIM-A Director Sameer Barua said.
"Six per cent OBC reservation will come into force from this academic year. In the second year, it will be increased to 15 per cent and in the third year, the entire quota of 27 per cent will be implemented," IIM-A Director Sameer Barua said.
Meanwhile, in other reports the Common Admission Test (CAT) for the management courses is likely to go on-line from the next year.
"We were planning to make Common Admission test (CAT) on-line from 2008, but since we have only eight months left for the test, it might not be possible this year. But it will be on-line from 2009," IIM-A Director Sameer Barua said.
Review committee skirts fee hike issue at IIM-A
The Indian Institute of Management (IIM) review committee, headed by R C Bhargava, has clarified that the issue of fee hike at the IIMs was not discussed at its meeting with the stakeholders of IIM-A today.
Insisting that the committee was not a ‘Super IIM’ to watch over the institute, Bhargava said hiking of fees was a decision that each IIM had to take, and that the panel had only suggested a deferment of the fee hike to the HRD ministry, not to the IIMs.
Sources present at the meeting say the fee issue was deliberately not tackled by the review committee as it did not want to discuss the issue with IIM-A further.
The meeting, instead, revolved around issues like autonomy, finances, accountability, corporate governance, administration, goals, policies and vision of the institute.
However, the committee’s recommendation would assume significance if it is accepted by the HRD ministry despite the fact that IIM-A has shown no indication of rolling back the fee hike.
Sources point out that most of the recommendations made by the previous IIM review committees in 1971 (Nanda committee) and 1992 (Kurien committee) were accepted by the HRD ministry, which went on to become directives for the IIMs. In case the Bhargava committee’s fee recommendation is accepted by the ministry, it will be binding on IIM-A.
Insisting that the committee was not a ‘Super IIM’ to watch over the institute, Bhargava said hiking of fees was a decision that each IIM had to take, and that the panel had only suggested a deferment of the fee hike to the HRD ministry, not to the IIMs.
Sources present at the meeting say the fee issue was deliberately not tackled by the review committee as it did not want to discuss the issue with IIM-A further.
The meeting, instead, revolved around issues like autonomy, finances, accountability, corporate governance, administration, goals, policies and vision of the institute.
However, the committee’s recommendation would assume significance if it is accepted by the HRD ministry despite the fact that IIM-A has shown no indication of rolling back the fee hike.
Sources point out that most of the recommendations made by the previous IIM review committees in 1971 (Nanda committee) and 1992 (Kurien committee) were accepted by the HRD ministry, which went on to become directives for the IIMs. In case the Bhargava committee’s fee recommendation is accepted by the ministry, it will be binding on IIM-A.
ISB to offer new courses at Punjab campus
The Indian School of Business (ISB), Hyderabad, is planning to offer four new specialisations at its upcoming campus in Punjab. The new modules will be in healthcare management, manufacturing, public policy and physical infrastructure management. The Punjab school will also offer finance and marketing and other basic courses.
“It will take about four years to commence operations at Punjab. Starting a new campus is like starting a new factory,” said ISB deputy dean Ajit Rangnekar.
The Punjab wing of ISB will only be an extension of the existing school at Hyderabad. The admission norms and criteria will be the same as the Hyderabad school.
ISB may also go for internal exchange of faculty and students between the two schools. “We are planning to allow students to do six months of their course in Hyderabad and the remaining six months in Punjab,” he said, adding a final decision was yet to be taken on this front.
“It will take about four years to commence operations at Punjab. Starting a new campus is like starting a new factory,” said ISB deputy dean Ajit Rangnekar.
The Punjab wing of ISB will only be an extension of the existing school at Hyderabad. The admission norms and criteria will be the same as the Hyderabad school.
ISB may also go for internal exchange of faculty and students between the two schools. “We are planning to allow students to do six months of their course in Hyderabad and the remaining six months in Punjab,” he said, adding a final decision was yet to be taken on this front.
Thursday, April 24, 2008
Orientation course at IIMs may stretch longer
The Supreme Court’s decision to implement the 27 per cent reservation quota for Other Backward Classes (OBCs) in the Indian Institutes of Management (IIMs) will have another fallout besides putting pressure on the infrastructure and bringing financial woes to the fore.
The duration of the ‘preparatory programme’, for students who are weak in certain areas, held by the IIMs each year before the batch begins, could get longer this year and the number of students selected is also expected to go up significantly.
Each year, the interview panel comprising senior faculty members from the IIMs identify a small number of students from the final list of selected candidates who need coaching in certain subject areas of Mathematics, English and verbal communication.
With the OBC quota coming into play, IIM faculty members are expecting the cut-offs for the OBC students to be lower than the cut-offs for the general category students, leading to more students requiring pre-coaching.
Sources at IIM Lucknow have said that the cut-off percentile for each section for general category students is 85, for SCs is 55 , STs is 50 and OBCs is 75. The institute will organise its preparatory course for two weeks this year.
IIM Bangalore has a percentile cut-off in each section of 88 for general students, around 45-50 for the SC/ST category and for OBC candidates it is expected to be around 70.
Usually non-engineering students are introduced to mathematical concepts through the programme. Verbal communication skills are also enhanced. The preparatory programme does not take into account a student’s economic or social background.
“However, it so happens that a large number of these students are from the SC/ST background,” said an IIM faculty.
IIM Indore, which usually holds a five-day preparatory programme for students, is set to increase the duration of the programme to two weeks.
An official from the institute said one of the reasons why the move was being considered was because of the expected lowering of cut-offs for OBC candidates.
At IIM Ahmedabad, the preparatory programme will be for three weeks. Last year the institute had conducted the programme for two weeks.
The number of students attending the programme are around 50 each year and a source said that the number could increase this year.
While the human resource development ministry has already notified the implementation of OBC quota in higher educational institutions, the IIMs say that they have not received the official communication yet.
The institutes say that once they receive the notification, they will implement the quota in phases. IIM Ahmedabad will take up 6 per cent OBC expansion this year, IIM Bangalore will take up 7 per cent, IIM Calcutta will take up 3 per cent, IIM Indore will take up 4 per cent, while IIM Lucknow will take up 8 per cent.
The duration of the ‘preparatory programme’, for students who are weak in certain areas, held by the IIMs each year before the batch begins, could get longer this year and the number of students selected is also expected to go up significantly.
Each year, the interview panel comprising senior faculty members from the IIMs identify a small number of students from the final list of selected candidates who need coaching in certain subject areas of Mathematics, English and verbal communication.
With the OBC quota coming into play, IIM faculty members are expecting the cut-offs for the OBC students to be lower than the cut-offs for the general category students, leading to more students requiring pre-coaching.
Sources at IIM Lucknow have said that the cut-off percentile for each section for general category students is 85, for SCs is 55 , STs is 50 and OBCs is 75. The institute will organise its preparatory course for two weeks this year.
IIM Bangalore has a percentile cut-off in each section of 88 for general students, around 45-50 for the SC/ST category and for OBC candidates it is expected to be around 70.
Usually non-engineering students are introduced to mathematical concepts through the programme. Verbal communication skills are also enhanced. The preparatory programme does not take into account a student’s economic or social background.
“However, it so happens that a large number of these students are from the SC/ST background,” said an IIM faculty.
IIM Indore, which usually holds a five-day preparatory programme for students, is set to increase the duration of the programme to two weeks.
An official from the institute said one of the reasons why the move was being considered was because of the expected lowering of cut-offs for OBC candidates.
At IIM Ahmedabad, the preparatory programme will be for three weeks. Last year the institute had conducted the programme for two weeks.
The number of students attending the programme are around 50 each year and a source said that the number could increase this year.
While the human resource development ministry has already notified the implementation of OBC quota in higher educational institutions, the IIMs say that they have not received the official communication yet.
The institutes say that once they receive the notification, they will implement the quota in phases. IIM Ahmedabad will take up 6 per cent OBC expansion this year, IIM Bangalore will take up 7 per cent, IIM Calcutta will take up 3 per cent, IIM Indore will take up 4 per cent, while IIM Lucknow will take up 8 per cent.
Wednesday, April 23, 2008
Harvard biz school students study Akshaya Patra
Akshaya Patra Foundation, an NGO-run mid-day meal programme of Iskcon, Bangalore has been a case study for students of Harvard Business School (HBS).
Announcing this to reporters here, Madhu Pandit Dasa, head of Iskcon and chairman of Akshaya Patra Foundation, said, “The business school students studied Akshaya Patra for its operational excellence, adoption of modern technology and scalability.”
“The HBS case study is another positive step in boosting our efforts to ensure that we reach out to a million children by the end of this decade,” he added.
The study was done by David Upton, Christine Ellis, Sarah Lucas and Amy Yamner after their study tour of India in 2006. The study was carried out through field work, personal interviews with a number of Akshaya Patra officials and schools benefited by them.
What started as a pilot in 2000 in Bangalore feeding 1,500 children, now offers meals to 850,000 children in over 4,500 government schools and anganwadis in 11 locations spread over six states. Akshaya Patra has set a goal of feeding one million children daily by 2010.
Madhu Pandit Dasa, said “The foundation, however felt confident that they will reach this goal. Performance always exceeds promises. There are three significant limitations to achieve this growth: perfecting and setting up operations, training a dedicated workforce and funding.”
“While HBS cases developed as part of the curriculum and are generally not intended to serve as endorsements, the fact remains these case studies carry substantial weightage as they represent as a clear picture of an organisation, its ability to carry out specific operations,” said Raj Kondur, trustee, Akshaya Patra Foundation.
Announcing this to reporters here, Madhu Pandit Dasa, head of Iskcon and chairman of Akshaya Patra Foundation, said, “The business school students studied Akshaya Patra for its operational excellence, adoption of modern technology and scalability.”
“The HBS case study is another positive step in boosting our efforts to ensure that we reach out to a million children by the end of this decade,” he added.
The study was done by David Upton, Christine Ellis, Sarah Lucas and Amy Yamner after their study tour of India in 2006. The study was carried out through field work, personal interviews with a number of Akshaya Patra officials and schools benefited by them.
What started as a pilot in 2000 in Bangalore feeding 1,500 children, now offers meals to 850,000 children in over 4,500 government schools and anganwadis in 11 locations spread over six states. Akshaya Patra has set a goal of feeding one million children daily by 2010.
Madhu Pandit Dasa, said “The foundation, however felt confident that they will reach this goal. Performance always exceeds promises. There are three significant limitations to achieve this growth: perfecting and setting up operations, training a dedicated workforce and funding.”
“While HBS cases developed as part of the curriculum and are generally not intended to serve as endorsements, the fact remains these case studies carry substantial weightage as they represent as a clear picture of an organisation, its ability to carry out specific operations,” said Raj Kondur, trustee, Akshaya Patra Foundation.
Tuesday, April 22, 2008
Panel asks IIMs to defer fee increase
The Indian Institutes of Management (IIMs) have been asked by the IIM Review Committee to put on hold their decision to increase the fees for the two-year Post-Graduate Programme (PGP) from the coming academic session.
In its interim report submitted to the government on April 4, the Committee said the Union Human Resource Development (HRD) Ministry should ask the IIMs to defer any increase in fees and keep them at the December 2007 level till it submits its final report.
The government has since forwarded the Committee’s recommendation to the chairpersons of the IIMs.
This information was provided in the Rajya Sabha by Minister of State for HRD, D. Purandeswari.
To a question on whether the IIMs had increased their fees by about 70 to 150 per cent, the Minister said only one of the six institutes — IIM Ahmedabad — had increased it by 175 per cent from Rs.2 lakh to Rs.5.50 lakh in the first year and from Rs.2.30 lakh to Rs.6 lakh in the second year.
The quantum of the hike in the other five IIMs is 60 per cent at Bangalore, 50 per cent at Calcutta, 25 per cent at Lucknow, 57.89 per cent at Indore and 57.90 per cent at Kozhikode.
In the case of IIM Bangalore, the proposal is to increase the annual fee from Rs.2.50 lakh to Rs.4 lakh in the first year and Rs.5 lakh in the second year. At IIM Calcutta, the hike is to be from Rs. 2.014 lakh and Rs.1.986 lakh to Rs.3 lakh and Rs.4 lakh.
While IIM Lucknow proposes to hike the fees to Rs.2.5 lakh annually from Rs.1.945 lakh and Rs. 2.095 lakh respectively, IIM Indore has sought to increase it from Rs.1.90 lakh in the first year and Rs.2 lakh in the second year to Rs.3 lakh and Rs.3.10 lakh.
IIM Kozhikode is to hike fee to Rs.3 lakh from Rs.1.90 lakh in the first year and Rs.2.10 lakh in the second year.
In its interim report submitted to the government on April 4, the Committee said the Union Human Resource Development (HRD) Ministry should ask the IIMs to defer any increase in fees and keep them at the December 2007 level till it submits its final report.
The government has since forwarded the Committee’s recommendation to the chairpersons of the IIMs.
This information was provided in the Rajya Sabha by Minister of State for HRD, D. Purandeswari.
To a question on whether the IIMs had increased their fees by about 70 to 150 per cent, the Minister said only one of the six institutes — IIM Ahmedabad — had increased it by 175 per cent from Rs.2 lakh to Rs.5.50 lakh in the first year and from Rs.2.30 lakh to Rs.6 lakh in the second year.
The quantum of the hike in the other five IIMs is 60 per cent at Bangalore, 50 per cent at Calcutta, 25 per cent at Lucknow, 57.89 per cent at Indore and 57.90 per cent at Kozhikode.
In the case of IIM Bangalore, the proposal is to increase the annual fee from Rs.2.50 lakh to Rs.4 lakh in the first year and Rs.5 lakh in the second year. At IIM Calcutta, the hike is to be from Rs. 2.014 lakh and Rs.1.986 lakh to Rs.3 lakh and Rs.4 lakh.
While IIM Lucknow proposes to hike the fees to Rs.2.5 lakh annually from Rs.1.945 lakh and Rs. 2.095 lakh respectively, IIM Indore has sought to increase it from Rs.1.90 lakh in the first year and Rs.2 lakh in the second year to Rs.3 lakh and Rs.3.10 lakh.
IIM Kozhikode is to hike fee to Rs.3 lakh from Rs.1.90 lakh in the first year and Rs.2.10 lakh in the second year.
Monday, April 21, 2008
HRD Ministry directive on OBC quota
The Human Resource Development (HRD) Ministry on Sunday asked all central educational institutions (CEIs) to extend reservation to the Other Backward Classes (OBCs) – except those falling within the “creamy layer” – from the coming academic session as per the Supreme Court order early this month.
The directive comes two days after the Cabinet Committee on Political Affairs decided to implement the court order in the CEI (Reservation in Admission) Act, 2006, despite some Ministers’ demands for a review petition on exclusion of the creamy layer.
On the demand for a review of the income criteria specified among the parameters to define the creamy layer, the Ministry for Social Justice & Empowerment (MSJE) has asked the National Commission for Backward Classes (NCBC) to examine the feasibility of revisiting its decision taken in 2004 in this regard.
In determining who is an OBC, the HRD Ministry has asked the CEIs to adopt the central List of OBCs prepared by the MSJE in consultation with the NCBC for reservation in jobs.
Similarly, an Office Memorandum – issued by the Union Ministry of Personnel, Public Grievances and Pension on September 8, 1993, and amended on March 9, 2004 – will provide the yardstick for defining the creamy layer for now.
The directive comes two days after the Cabinet Committee on Political Affairs decided to implement the court order in the CEI (Reservation in Admission) Act, 2006, despite some Ministers’ demands for a review petition on exclusion of the creamy layer.
On the demand for a review of the income criteria specified among the parameters to define the creamy layer, the Ministry for Social Justice & Empowerment (MSJE) has asked the National Commission for Backward Classes (NCBC) to examine the feasibility of revisiting its decision taken in 2004 in this regard.
In determining who is an OBC, the HRD Ministry has asked the CEIs to adopt the central List of OBCs prepared by the MSJE in consultation with the NCBC for reservation in jobs.
Similarly, an Office Memorandum – issued by the Union Ministry of Personnel, Public Grievances and Pension on September 8, 1993, and amended on March 9, 2004 – will provide the yardstick for defining the creamy layer for now.
IIMs scramble to get finances right
The premier Indian Institutes of Management (IIMs) will have to draw on all their management skills to solve the current financial imbroglio they are in.
On the one hand, the fee hike by IIM Ahmedabad and IIM Bangalore has caused heartburn not only among students and the Union Human Resource Development Ministry but also among the other IIMs who say they were not consulted despite an existing agreement to do so. IIM-A and IIM-B have said that a fee hike is a prerogative of their own governing boards.
On the other hand, the already-depleting corpus of these IIMs is expected to take a further hit once the Sixth Pay Commission recommendations are implemented.
While it will drain their resources, observers said the pay hikes will not be good enough to attract talent. Salaries on offer will still remain way below what a faculty member of any internationally-acclaimed university gets. Last, but not the least, all IIMs need to keep large sums of money aside to implement the 27 per cent reservation for Other Backward Castes.
It is estimated that an IIM, with around 800 students, generates Rs 40-50 crore through fees and consultancy services. This, IIM insiders said, is not enough to cover the costs.
The fee hike by the two IIMs aims to bring the expenses at par with the course fee. So, IIM-A hiked its fee from Rs 4 lakh to Rs 11.5 lakh and IIM-B raised its fees from Rs 5 lakh to Rs 8 lakh for the two-year post-graduate management programme.
IIM-B said that by increasing the fee, it was just bringing down the rate of subsidy on its management programme from 80 per cent to about 50 per cent.
“We have to pay our faculty members and administrative staff; provide for the wage bill, food bill, study tours, material costs, mess charges, campus maintenance, electricity and water expenses; and maintain the over 100-odd houses on the campus,” said a source.
IIM Shillong too is thinking of raising its fees, even as it sets to become operational this July.
The Centre does provide maintenance and infrastructure grants to the IIMs. However, an IIM review committee headed by Verghese Kurien had recommended in the late-1990s that these institutes of higher learning must be given more autonomy and must develop financial independence.
Subsequently, the three IIMs at Ahmedabad, Bangalore and Kolkata decided not to avail of any grants from the government and create their own corpus.
But not much of that remains. IIM Ahmedabad Director Samir Barua said: “Out of the corpus of Rs 130 crore that we had till 2006, only a little more than Rs 40 crore is intact. We are now looking at ways to build the corpus.”
On the one hand, the fee hike by IIM Ahmedabad and IIM Bangalore has caused heartburn not only among students and the Union Human Resource Development Ministry but also among the other IIMs who say they were not consulted despite an existing agreement to do so. IIM-A and IIM-B have said that a fee hike is a prerogative of their own governing boards.
On the other hand, the already-depleting corpus of these IIMs is expected to take a further hit once the Sixth Pay Commission recommendations are implemented.
While it will drain their resources, observers said the pay hikes will not be good enough to attract talent. Salaries on offer will still remain way below what a faculty member of any internationally-acclaimed university gets. Last, but not the least, all IIMs need to keep large sums of money aside to implement the 27 per cent reservation for Other Backward Castes.
It is estimated that an IIM, with around 800 students, generates Rs 40-50 crore through fees and consultancy services. This, IIM insiders said, is not enough to cover the costs.
The fee hike by the two IIMs aims to bring the expenses at par with the course fee. So, IIM-A hiked its fee from Rs 4 lakh to Rs 11.5 lakh and IIM-B raised its fees from Rs 5 lakh to Rs 8 lakh for the two-year post-graduate management programme.
IIM-B said that by increasing the fee, it was just bringing down the rate of subsidy on its management programme from 80 per cent to about 50 per cent.
“We have to pay our faculty members and administrative staff; provide for the wage bill, food bill, study tours, material costs, mess charges, campus maintenance, electricity and water expenses; and maintain the over 100-odd houses on the campus,” said a source.
IIM Shillong too is thinking of raising its fees, even as it sets to become operational this July.
The Centre does provide maintenance and infrastructure grants to the IIMs. However, an IIM review committee headed by Verghese Kurien had recommended in the late-1990s that these institutes of higher learning must be given more autonomy and must develop financial independence.
Subsequently, the three IIMs at Ahmedabad, Bangalore and Kolkata decided not to avail of any grants from the government and create their own corpus.
But not much of that remains. IIM Ahmedabad Director Samir Barua said: “Out of the corpus of Rs 130 crore that we had till 2006, only a little more than Rs 40 crore is intact. We are now looking at ways to build the corpus.”
Sunday, April 20, 2008
Mid-stream career change not unthinkable
A mid-stream career change for many is unthinkable. Students at the Hyderabad-based Indian School of Business (ISB), however, thought differently. The students, who came with prior work experience, used the skills learnt during the one-year course to move on to new areas.
For instance, Neeraj Mehta was a practising dentist before he took to management education. Now, he will not wield the scalpel anymore. Instead, he will dabble with markets, numbers and charts for making informed decisions at Grail Research in Delhi.
Why give up a chosen career? Neeraj answers: “Making an impact matters.” He opted for a career change for both personal and professional reasons. “I felt I was not doing enough by just attending to patients,” he said, adding he often wondered what happened to those who could not afford his treatment. In his new role, though away from dentistry, he will still be connected with life sciences — his mainstay.
“There is need for an efficient and affordable healthcare system,” said Neeraj, who believes that public-private partnership is the main tool to build health infrastructure. He has no regrets for calling it quits for the apron. “There is no scope for change if I continue to be a doctor, ” said the ISBian, who equipped himself with advanced computer and research skills in the year’s stay at the ISB.
Prakruti Singh, a software engineer, put an end to a career with TCS Limited to join ISB. And during the recently concluded placements, she made up her mind to turn a consultant. The decision to swap domain areas, she says, is part of her larger plans to move towards a diverse profile. “We should be tuned to learn continuously,” she says on why she took up work in a new domain in West Asia.
There are also people like Jitesh Shah, a native of Raipur and an alumni of IIT Guwahati, who see career shift as a tool to break the monotony of a job. He felt that his career was stagnating. In his earlier stint, he worked on chip designing, coding and testing. Now, he will be a consultant with a reputed firm. “A job in the IT sector stops exciting you after two or three years,” he says.
ISB dean M Rammohan Rao says career shifts are a regular practice at the institute. This trend started in 2001, when the school was set up. Initially, corporations were slow to respond.
In the last few years, however, they have responded very well. All the 10 doctors who joined ISB have sought a change in profession. Eighty per cent of the total 422 students achieved career shifts, according to Bhuvana Ramalingam, director, Communications, ISB.
But how does the industry see this trend? D Rajappa, president of Everest Brand Solutions, the Mumbai-headquartered advertising agency says: “Advertising thrives on lateral thinking and innovation.
Cross functional roles create opportunities.” Everest has had many people moving into new roles--from servicing to creative and creative to planning, he said in an email-interview on career shifts.
Infact, companies like Webdunia, a multi-lingual portal, actively support role changes across industry segments for gaining new perspectives, according to the portal’s director Vinay Chhajlani.
For instance, Neeraj Mehta was a practising dentist before he took to management education. Now, he will not wield the scalpel anymore. Instead, he will dabble with markets, numbers and charts for making informed decisions at Grail Research in Delhi.
Why give up a chosen career? Neeraj answers: “Making an impact matters.” He opted for a career change for both personal and professional reasons. “I felt I was not doing enough by just attending to patients,” he said, adding he often wondered what happened to those who could not afford his treatment. In his new role, though away from dentistry, he will still be connected with life sciences — his mainstay.
“There is need for an efficient and affordable healthcare system,” said Neeraj, who believes that public-private partnership is the main tool to build health infrastructure. He has no regrets for calling it quits for the apron. “There is no scope for change if I continue to be a doctor, ” said the ISBian, who equipped himself with advanced computer and research skills in the year’s stay at the ISB.
Prakruti Singh, a software engineer, put an end to a career with TCS Limited to join ISB. And during the recently concluded placements, she made up her mind to turn a consultant. The decision to swap domain areas, she says, is part of her larger plans to move towards a diverse profile. “We should be tuned to learn continuously,” she says on why she took up work in a new domain in West Asia.
There are also people like Jitesh Shah, a native of Raipur and an alumni of IIT Guwahati, who see career shift as a tool to break the monotony of a job. He felt that his career was stagnating. In his earlier stint, he worked on chip designing, coding and testing. Now, he will be a consultant with a reputed firm. “A job in the IT sector stops exciting you after two or three years,” he says.
ISB dean M Rammohan Rao says career shifts are a regular practice at the institute. This trend started in 2001, when the school was set up. Initially, corporations were slow to respond.
In the last few years, however, they have responded very well. All the 10 doctors who joined ISB have sought a change in profession. Eighty per cent of the total 422 students achieved career shifts, according to Bhuvana Ramalingam, director, Communications, ISB.
But how does the industry see this trend? D Rajappa, president of Everest Brand Solutions, the Mumbai-headquartered advertising agency says: “Advertising thrives on lateral thinking and innovation.
Cross functional roles create opportunities.” Everest has had many people moving into new roles--from servicing to creative and creative to planning, he said in an email-interview on career shifts.
Infact, companies like Webdunia, a multi-lingual portal, actively support role changes across industry segments for gaining new perspectives, according to the portal’s director Vinay Chhajlani.
IIM-L plans to offer certificate programmes
The Indian Institute of Management Lucknow (IIM-L) is planning to introduce ‘Certificate Programmes’ for students while imparting ‘online’ courses. This is in response to the Central government’s decision allowing all educational institutions to offer their popular courses through the distance and mixed -education mode.
“IIM-L will not offer its premier Post Graduate Programmes online. We may have a Certificate Course to allow students to be a part of IIM-L,” Sushil Kumar, Head, Agriculture Management Centre (AMC) and Professor-in-charge (corporate communication) told Business Standard.
The certificate courses will be offered from the Noida Campus of IIM-L and will primarily be of short duration. “We propose to finalise the structure of the course by the end of this year, so that it may start from the next academic session in April,” Kumar added.
For the record, the three regulatory bodies, the University Grant Commission (UGC), All India Council for Technical Education (AICTE) and Distance Education Council (DEC), have jointly decided to allow all educational institutions to offer distance education courses subject to approval by a joint committee formed by them.
IIM-L has also launched its new course, ‘International Programme in Management for Executives’ (IPMX) for working managers this month. The one-year programme will be offered from the institute’s capsule campus at Noida and will encompass 4-5 weeks of international module at the Faculty of Management at McGill University Campus, Canada.
“IIM-L will not offer its premier Post Graduate Programmes online. We may have a Certificate Course to allow students to be a part of IIM-L,” Sushil Kumar, Head, Agriculture Management Centre (AMC) and Professor-in-charge (corporate communication) told Business Standard.
The certificate courses will be offered from the Noida Campus of IIM-L and will primarily be of short duration. “We propose to finalise the structure of the course by the end of this year, so that it may start from the next academic session in April,” Kumar added.
For the record, the three regulatory bodies, the University Grant Commission (UGC), All India Council for Technical Education (AICTE) and Distance Education Council (DEC), have jointly decided to allow all educational institutions to offer distance education courses subject to approval by a joint committee formed by them.
IIM-L has also launched its new course, ‘International Programme in Management for Executives’ (IPMX) for working managers this month. The one-year programme will be offered from the institute’s capsule campus at Noida and will encompass 4-5 weeks of international module at the Faculty of Management at McGill University Campus, Canada.
Saturday, April 19, 2008
IITians no longer prefer U.S. as job destination, says study
India, with its booming economy and opportunities galore, is now becoming a preferred job destination among graduates from the prestigious Indian Institute of Technology (IITs), who now no longer prefer to go to the U.S. or other developed countries searching for jobs or higher studies.
“It is well known that graduates from IIT, popularly known as IITians, have historically preferred to move to the U.S. or other countries to pursue higher studies and explore more attractive career opportunities. However, preferences have changed during the last few years,” says a recent study conducted by a leading global research and analytics’ firm, Evalueserve.
Prepared after a survey of 677 IITians, the study points out that among IITians, who graduated between 1964 and 2001, 35 per cent moved to countries other than India, while 65 per cent preferred to stay back. However, among IITians who graduated in 2002 and later, only 16 per cent went abroad, while 84 per cent remained in India. “Recent graduates also believe India will be the most promising geography for IIT graduates in 10 years,” it says.
According to the study, among IITians, who graduated during 1964 and 2001, 60 per cent believed that when they were graduating, the U.S. and other developed countries provided better opportunities, while the remaining said it was India which provided job prospects. However, among those who passed out of the IITs between 2002 and 2008, this number dropped to 51 per cent who believed that developed countries would provide them better opportunities.
Interestingly, the point of “inflexion” arrives with the graduating class of 2002, where these changing trends became more pronounced. This correlates with the growth of India’s economy, the study points out. It also notes that better academic opportunity was the primary reason among IITians for choosing the U.S. over India.
However, there were other reasons too that resulted in IITians not going to the U.S. — stringent visa norms after the 9/11 terrorist incident, high cost of living, limited scholarships, high tuition fees, and the perception of reduced employment opportunities and a poorer life in the U.S.—, the study says.
While the reasons behind IITians preferring to stay back included their desire to be closer to their homes, culture, and family; limited number of “significantly attractive” job offers overseas; and substantial increase in job opportunities and improved standard of living in India; and significant entrepreneurial opportunities in India.
Interestingly, when asked “10 years down the line, which geography do you think will hold the most promise for success?”, 72 per cent IITians chose India, with only 17 per cent opting for the US, 5 per cent for Europe and 2 per cent for China, the study adds.
The Evalueserve study also points out that IITians are also expanding their career choices beyond the traditional engineering and technology opportunities.
“There has been a noticeable shift towards consulting and financial services as well as continued interest in entrepreneurial aspirations. This shift is related to the buoyant Indian economy, a surging Indian stock market, and the increased earnings potential in these areas,” it adds.
“It is well known that graduates from IIT, popularly known as IITians, have historically preferred to move to the U.S. or other countries to pursue higher studies and explore more attractive career opportunities. However, preferences have changed during the last few years,” says a recent study conducted by a leading global research and analytics’ firm, Evalueserve.
Prepared after a survey of 677 IITians, the study points out that among IITians, who graduated between 1964 and 2001, 35 per cent moved to countries other than India, while 65 per cent preferred to stay back. However, among IITians who graduated in 2002 and later, only 16 per cent went abroad, while 84 per cent remained in India. “Recent graduates also believe India will be the most promising geography for IIT graduates in 10 years,” it says.
According to the study, among IITians, who graduated during 1964 and 2001, 60 per cent believed that when they were graduating, the U.S. and other developed countries provided better opportunities, while the remaining said it was India which provided job prospects. However, among those who passed out of the IITs between 2002 and 2008, this number dropped to 51 per cent who believed that developed countries would provide them better opportunities.
Interestingly, the point of “inflexion” arrives with the graduating class of 2002, where these changing trends became more pronounced. This correlates with the growth of India’s economy, the study points out. It also notes that better academic opportunity was the primary reason among IITians for choosing the U.S. over India.
However, there were other reasons too that resulted in IITians not going to the U.S. — stringent visa norms after the 9/11 terrorist incident, high cost of living, limited scholarships, high tuition fees, and the perception of reduced employment opportunities and a poorer life in the U.S.—, the study says.
While the reasons behind IITians preferring to stay back included their desire to be closer to their homes, culture, and family; limited number of “significantly attractive” job offers overseas; and substantial increase in job opportunities and improved standard of living in India; and significant entrepreneurial opportunities in India.
Interestingly, when asked “10 years down the line, which geography do you think will hold the most promise for success?”, 72 per cent IITians chose India, with only 17 per cent opting for the US, 5 per cent for Europe and 2 per cent for China, the study adds.
The Evalueserve study also points out that IITians are also expanding their career choices beyond the traditional engineering and technology opportunities.
“There has been a noticeable shift towards consulting and financial services as well as continued interest in entrepreneurial aspirations. This shift is related to the buoyant Indian economy, a surging Indian stock market, and the increased earnings potential in these areas,” it adds.
Thursday, April 17, 2008
IITs agree to increase seats by 13%
The seven Indian Institutes of Technology today announced a 13 per cent increase in capacity for 2008-09 which would be able to accommodate 9 per cent quota for other backward classes in the coming year.
The rest of the quota – the Supreme Court has upheld reservation of 27 per cent seats for OBCs — will be implemented in the subsequent two years.
On the other hand, the three new IITs coming up in Andhra Pradesh, Bihar and Rajasthan this year will implement the 27 per cent quota from the first year itself.
At present, there are more than 4,000 seats in the seven IITs at Kharagpur, Mumbai, Chennai, Delhi, Kanpur, Guwahati and Roorkee, annually.
After a meeting of the seven IITs in New Delhi, IIT Delhi Director Surendra Prasad said the institutes, which held their entrance tests for academic year 2008-09 last Sunday, had also decided to set the eligibility for OBC candidates at 10 per cent less than that for the general category.
IIT officials, who did not want to be named, said that of the 321,643 applications received for the IIT entrance examination this year, 64 per cent were from the general category, 10 per cent from scheduled castes and 3 per cent from scheduled tribes. The percentage of OBCs among the applicants was 23 per cent.
According to Prasad, the undergraduate seats in the new year will increase by 880. Of this, 520 will be in the existing seven IITs and 360 in the three new ones.
The rest of the quota – the Supreme Court has upheld reservation of 27 per cent seats for OBCs — will be implemented in the subsequent two years.
On the other hand, the three new IITs coming up in Andhra Pradesh, Bihar and Rajasthan this year will implement the 27 per cent quota from the first year itself.
At present, there are more than 4,000 seats in the seven IITs at Kharagpur, Mumbai, Chennai, Delhi, Kanpur, Guwahati and Roorkee, annually.
After a meeting of the seven IITs in New Delhi, IIT Delhi Director Surendra Prasad said the institutes, which held their entrance tests for academic year 2008-09 last Sunday, had also decided to set the eligibility for OBC candidates at 10 per cent less than that for the general category.
IIT officials, who did not want to be named, said that of the 321,643 applications received for the IIT entrance examination this year, 64 per cent were from the general category, 10 per cent from scheduled castes and 3 per cent from scheduled tribes. The percentage of OBCs among the applicants was 23 per cent.
According to Prasad, the undergraduate seats in the new year will increase by 880. Of this, 520 will be in the existing seven IITs and 360 in the three new ones.
Monday, April 14, 2008
Brain drain is passe, India a hot destination for CEOs
Expats driven by global pay packages and challenging opportunities.
The Indian office of a leading multinational mobile phone company is facing an unusual challenge. It is losing top executives who have declined senior-level assignments abroad because they do not want to miss opportunities in India.
The brain drain, it seems, is passé. India is becoming one of the hottest destinations for expatriates (both those of Indian origin and foreigners) for top jobs. That is because big business houses in India are ready to offer pay packets that are equivalent to and sometimes more than global benchmarks.
This is a key finding of a study of senior recruitment trends by US-based SpencerStuart, a leading executive search firm that specialises in recruiting CEOs, presidents and COOs for companies globally.
SpencerStuart, which has operations in India and recruits CEOs for almost half the Fortune 500 companies, said for key sectors like retail, real estate, power, oil and gas and refining, transportation and logistics, Indian business houses are offering annual salary packages ranging from $750,000 to $1.5 million — excluding stock options.
Nearly half the CEOs and COOs recruited in these sectors are foreigners (including non-resident Indians).
CEO salaries in these sectors are nearly double what companies pay in other sectors, which could range from $350,000 to $750,000.
“Expats are increasingly finding India a more exciting market in which to work than mature markets. And large Indian companies in certain sectors are willing to match if not better global salaries to get talent which is difficult to get in India,” said Anjali Bansal, managing director of SpencerStuart.
In fact, she added, multinationals are finding it difficult to woo Indians at the senior level to take up foreign postings abroad.
As a strategy, SpencerStuart has advised clients to shift regional headquarters from, say, Singapore or Hong Kong to India so that senior Indian executives can operate as heads from India. Several companies are considering this option.
SpencerStuart also said certain countries have been identified for CEO recruitment for India. Contrary to common belief the US is not the favoured recruitment ground.
In real estate the happy hunting grounds include Australia, south east Asia and the UK, amongst others. For oil and gas and power they are Kazakhstan, the North Sea area, Canada and West Asia. For retail the hottest recruitment grounds are West Asia, south east Asia (especially Hong Kong) and Europe.
The Indian office of a leading multinational mobile phone company is facing an unusual challenge. It is losing top executives who have declined senior-level assignments abroad because they do not want to miss opportunities in India.
The brain drain, it seems, is passé. India is becoming one of the hottest destinations for expatriates (both those of Indian origin and foreigners) for top jobs. That is because big business houses in India are ready to offer pay packets that are equivalent to and sometimes more than global benchmarks.
This is a key finding of a study of senior recruitment trends by US-based SpencerStuart, a leading executive search firm that specialises in recruiting CEOs, presidents and COOs for companies globally.
SpencerStuart, which has operations in India and recruits CEOs for almost half the Fortune 500 companies, said for key sectors like retail, real estate, power, oil and gas and refining, transportation and logistics, Indian business houses are offering annual salary packages ranging from $750,000 to $1.5 million — excluding stock options.
Nearly half the CEOs and COOs recruited in these sectors are foreigners (including non-resident Indians).
CEO salaries in these sectors are nearly double what companies pay in other sectors, which could range from $350,000 to $750,000.
“Expats are increasingly finding India a more exciting market in which to work than mature markets. And large Indian companies in certain sectors are willing to match if not better global salaries to get talent which is difficult to get in India,” said Anjali Bansal, managing director of SpencerStuart.
In fact, she added, multinationals are finding it difficult to woo Indians at the senior level to take up foreign postings abroad.
As a strategy, SpencerStuart has advised clients to shift regional headquarters from, say, Singapore or Hong Kong to India so that senior Indian executives can operate as heads from India. Several companies are considering this option.
SpencerStuart also said certain countries have been identified for CEO recruitment for India. Contrary to common belief the US is not the favoured recruitment ground.
In real estate the happy hunting grounds include Australia, south east Asia and the UK, amongst others. For oil and gas and power they are Kazakhstan, the North Sea area, Canada and West Asia. For retail the hottest recruitment grounds are West Asia, south east Asia (especially Hong Kong) and Europe.
Thursday, April 10, 2008
Quota: What does 'creamy layer' mean?
The term "creamy layer" was first used during the 1992 Supreme Court judgement on the Mandal Commission recommendations asking for 27% reservations for other backward classes (OBCs) in central government jobs. While the Supreme Court meant that the more privileged among the backward classes do not dominate the reserved categories, the bare bones of the criteria for judging the creamy layer was left with the state governments.
Many state governments did come up with some criterion while others like Kerala have not. Some principles have been laid down by the Supreme court in the 1992 judgement on the creamy layer. These include chidren of constitutional functionaries including the President, Vice-President and Judges of the Supreme Court and High Courts. Children of the members of the Union Public Service Commission (UPSC) are also excluded as are Group A and B or Class I and II officers of all-India and state services. Children of certain public sector employees are also excluded. Certain property-related ceilings, on irrigated and unirrigated land holders, and plantation owners have also been imposed, and in certain cases children whose parents have an annual income of over Rs 2.5 lakh are also excluded. Children of doctors, dentists, engineers, chartered accountants, IT consultants, media professionals, authors, and sports professionals are also included in the creamy layer.
State governments have been given the leeway to determine who they deem to be an OBC, and grounds for exemptions have also been made clear in each case.
Many state governments did come up with some criterion while others like Kerala have not. Some principles have been laid down by the Supreme court in the 1992 judgement on the creamy layer. These include chidren of constitutional functionaries including the President, Vice-President and Judges of the Supreme Court and High Courts. Children of the members of the Union Public Service Commission (UPSC) are also excluded as are Group A and B or Class I and II officers of all-India and state services. Children of certain public sector employees are also excluded. Certain property-related ceilings, on irrigated and unirrigated land holders, and plantation owners have also been imposed, and in certain cases children whose parents have an annual income of over Rs 2.5 lakh are also excluded. Children of doctors, dentists, engineers, chartered accountants, IT consultants, media professionals, authors, and sports professionals are also included in the creamy layer.
State governments have been given the leeway to determine who they deem to be an OBC, and grounds for exemptions have also been made clear in each case.
OBC Quota: SC upholds 27% reservation
The Supreme Court today cleared the decks for implementation of 27% quota for "socially and educationally backward classes" in centrally run institutions of higher education like IIMs, IITs and AIIMS. It said that the creamy layer should be excluded in the admissions. Unaided private institutions and those run by minorities are not included in the purview of this law.
The five-judge constitution bench, headed by Chief Justice K G Balakrishnan, thus upheld the validity of the 93rd Amendment to the Constitution passed in 2005, which enables the central government to introduce reservation in educational institutions. After amending the Constitution, the government passed the Central Educational Institutions (Reservation in Admissions) Act in 2006.
The 27% reservation under this law was met with stiff resistance from a section of students who feared that meritorious candidates would lose their chance to enter the prestigious institutions if the quota system for the OBCs is implemented.
Amid student protests, the court passed an interim order in March last year staying the implementation of the quota in central educational institutions. The court heard the arguments and reserved its judgment in November last year. With this judgment, the stay has been lifted and the reservations will come into force from the next academic session.
The court has asked the government to review the 27% quota after five years.
Four out of five judges left open the issue of quota in private unaided institutions, but one judge, Justice Dalveer Bhandari, held that it would be violative of the basic structure of the Constitution.
The court said that the parametres laid down for identifying the creamy layer among the OBCs for jobs under the office memorandum of September 8, 1993, will be applicable for identifying the socially and educationally backward classes.
Four out of five judges who wrote separate judgments are the Chief Justice, Justice Arijit Pasayat, Justice R V Raveendran and Justice Dalveer Bhandari. Justice C K Thakker and Justice Pasayat wrote a common judgment.
The Central Educational Institutions (Reservation in Admission) Act, 2006
Institutions covered by the Act
Existing six Indian Institutes of Management (IIMs) plus seven more coming up
Existing seven Indian Institutes of Technology (IITs) plus eight more coming up
Indian Institute of Science (IISc), Bangalore
Existing 20 National Institutes of Technology plus 10 more coming up
Existing four National Institute of Technical Teachers Training Research
National Institute of Foundry & Forge Technology, Ranchi
Indian Institute of Information Technology Design & Manufacturing, Jabalpur
School of Planning & Architecture, New Delhi
Indian School of Mines, Dhanbad
Existing 24 central universities, plus 16 more coming up, plus 14 world-class universities
Indian Agricultural Research Institute, New Delhi
Indian Veterinary Research Institute, Izatnagar
Central Dairy Research Institute
11 medical institutions like the All India Institute of Medical Sciences Delhi, PGIMER Chandigarh, NIMHANS Bangalore
Central Institute of Fisheries Nautical & Engineering Training, Kochi
Both the Indian Institutes of Mass Communication
Central Institute of Plastic Engineering & Technology
Sree Chitra Tirunal Institute for Medical Sciences and Technology, Thiruvananthapuram
Institutions not covered by the Act
All central government supported minority institutions
Central educational institutions established in tribal areas
Homi Bhabha Atomic Research Centre, Trombay
Indira Gandhi Centre for Atomic Research, Kalpakkam
Raja Ramanna Centre for Advanced Technology, Indore
Institute for Plasma Research, Gandhinagar
Variable Energy Cyclotron Centre, Kolkata
Saha Institute of Nuclear Physics, Kolkata
Institute of Physics, Bhubaneshwar
Institute of Mathematical Sciences, Chennai
Harish Chandra Research Institute, Allahabad
Tata Memorial Centre, Mumbai
Tata Institute of Fundamental Research, Mumbai
North Eastern Indira Gandhi Regional Institute of Health and Medical Sciences, Shillong
National Brain Research Centre, Manesar, Gurgaon
Jawaharlal Nehru Centre for Advanced Scientific Research,Bangalore
Physical Research Laboratory, Ahmedabad
Space Physics Laboratory, Thiruvananthapuram
Indian Institute of Remote Sensing, Dehradun
Courses/programmes at high-levels of specialisation
The five-judge constitution bench, headed by Chief Justice K G Balakrishnan, thus upheld the validity of the 93rd Amendment to the Constitution passed in 2005, which enables the central government to introduce reservation in educational institutions. After amending the Constitution, the government passed the Central Educational Institutions (Reservation in Admissions) Act in 2006.
The 27% reservation under this law was met with stiff resistance from a section of students who feared that meritorious candidates would lose their chance to enter the prestigious institutions if the quota system for the OBCs is implemented.
Amid student protests, the court passed an interim order in March last year staying the implementation of the quota in central educational institutions. The court heard the arguments and reserved its judgment in November last year. With this judgment, the stay has been lifted and the reservations will come into force from the next academic session.
The court has asked the government to review the 27% quota after five years.
Four out of five judges left open the issue of quota in private unaided institutions, but one judge, Justice Dalveer Bhandari, held that it would be violative of the basic structure of the Constitution.
The court said that the parametres laid down for identifying the creamy layer among the OBCs for jobs under the office memorandum of September 8, 1993, will be applicable for identifying the socially and educationally backward classes.
Four out of five judges who wrote separate judgments are the Chief Justice, Justice Arijit Pasayat, Justice R V Raveendran and Justice Dalveer Bhandari. Justice C K Thakker and Justice Pasayat wrote a common judgment.
The Central Educational Institutions (Reservation in Admission) Act, 2006
Institutions covered by the Act
Existing six Indian Institutes of Management (IIMs) plus seven more coming up
Existing seven Indian Institutes of Technology (IITs) plus eight more coming up
Indian Institute of Science (IISc), Bangalore
Existing 20 National Institutes of Technology plus 10 more coming up
Existing four National Institute of Technical Teachers Training Research
National Institute of Foundry & Forge Technology, Ranchi
Indian Institute of Information Technology Design & Manufacturing, Jabalpur
School of Planning & Architecture, New Delhi
Indian School of Mines, Dhanbad
Existing 24 central universities, plus 16 more coming up, plus 14 world-class universities
Indian Agricultural Research Institute, New Delhi
Indian Veterinary Research Institute, Izatnagar
Central Dairy Research Institute
11 medical institutions like the All India Institute of Medical Sciences Delhi, PGIMER Chandigarh, NIMHANS Bangalore
Central Institute of Fisheries Nautical & Engineering Training, Kochi
Both the Indian Institutes of Mass Communication
Central Institute of Plastic Engineering & Technology
Sree Chitra Tirunal Institute for Medical Sciences and Technology, Thiruvananthapuram
Institutions not covered by the Act
All central government supported minority institutions
Central educational institutions established in tribal areas
Homi Bhabha Atomic Research Centre, Trombay
Indira Gandhi Centre for Atomic Research, Kalpakkam
Raja Ramanna Centre for Advanced Technology, Indore
Institute for Plasma Research, Gandhinagar
Variable Energy Cyclotron Centre, Kolkata
Saha Institute of Nuclear Physics, Kolkata
Institute of Physics, Bhubaneshwar
Institute of Mathematical Sciences, Chennai
Harish Chandra Research Institute, Allahabad
Tata Memorial Centre, Mumbai
Tata Institute of Fundamental Research, Mumbai
North Eastern Indira Gandhi Regional Institute of Health and Medical Sciences, Shillong
National Brain Research Centre, Manesar, Gurgaon
Jawaharlal Nehru Centre for Advanced Scientific Research,Bangalore
Physical Research Laboratory, Ahmedabad
Space Physics Laboratory, Thiruvananthapuram
Indian Institute of Remote Sensing, Dehradun
Courses/programmes at high-levels of specialisation
Sunday, April 6, 2008
ISB 2008 batch averages Rs 19 lakh in offers
The placement offers for the Class of 2008 have set new records in the six-year history of the Indian School of Business (ISB), with the students attracting an average Indian cost-to-company (CTC) package of Rs 19 lakh per year, as against Rs 15.27 lakh last year. The comprehensive average of all international offers stood at $144,812 over the previous year’s $135,000.
ISB, however, has decided not to highlight the highest salary figure, and instead focus on sharing an overall picture of student performance during the placement season.
Around 657 job offers were made by close to 230 companies to the class of 2008 comprising 422 students, The international CTC averages are $138,614 (US), $156,658 (Europe), $125,389 (West Asia) and $145,607 (Asia Pacific).
The consulting sector (44 per cent) turned out to be the biggest international recruiter, followed by financial services (22 per cent) and manufacturing (17 per cent). Eighteen students opted out of the placements process.
ISB, however, has decided not to highlight the highest salary figure, and instead focus on sharing an overall picture of student performance during the placement season.
Around 657 job offers were made by close to 230 companies to the class of 2008 comprising 422 students, The international CTC averages are $138,614 (US), $156,658 (Europe), $125,389 (West Asia) and $145,607 (Asia Pacific).
The consulting sector (44 per cent) turned out to be the biggest international recruiter, followed by financial services (22 per cent) and manufacturing (17 per cent). Eighteen students opted out of the placements process.
IIM-A defends fee hike
Indian Institutes of Management (IIMs), specifically IIM-Ahmedabad (IIM-A), which have announced a steep hike in their fees last week are unlikely to revise (scale down) the new fee structures.
Vijaypat Singhania, the chairman of the governing council of IIM-Ahmedabad who met Minister of Human Resource Development Arjun Singh today, justified the fee hike and said they would take steps to ensure that all deserving students get into the premier institution.
“I met the minister as he was concerned about the fee hike. I explained him at length as why we had to go for such a move. The hike is purely on the basis of costs and in the wake of the Sixth Pay Commission report. I think the minister was satisfied with our point,” Singhania told reporters after meeting Arjun Singh at his residence. “The new fee structure would remain the same,” he said.
Vijaypat Singhania, the chairman of the governing council of IIM-Ahmedabad who met Minister of Human Resource Development Arjun Singh today, justified the fee hike and said they would take steps to ensure that all deserving students get into the premier institution.
“I met the minister as he was concerned about the fee hike. I explained him at length as why we had to go for such a move. The hike is purely on the basis of costs and in the wake of the Sixth Pay Commission report. I think the minister was satisfied with our point,” Singhania told reporters after meeting Arjun Singh at his residence. “The new fee structure would remain the same,” he said.
Thursday, April 3, 2008
IIT directors urge govt to give new institutes another name
Directors of some Indian Institutes of Technology (IITs) are understood to have written to Planning Commission Deputy Chairman Montek Singh Ahluwalia urging the government to give the proposed IITs some other name.
They are of the view that calling the new institutes “IITs” would dilute the brand image of the existing premier institutes, which figure among the world’s 100 best technology universities and are compared with the likes of MIT, California University and Berkeley.
The seven IITs are located in Kharagpur, Mumbai, Chennai, Kanpur, Delhi, Guwahati and Roorkee.
With the government’s plan to set up eight new IITs in Rajasthan, Bihar, Andhra Pradesh, Himachal Pradesh, Orissa, Madhya Pradesh, Gujarat and Punjab, and the conversion of the institute of technology at Banaras Hindu University into an IIT, the total number of IITs will increase to 16.
The government has proposed to create the new IITs under the same mandate as the older ones so that they enjoy similar financial support, though they may have a different council.
“I am surely in favour of the government’s idea of creating new quality institutes like the IITs but they should be given a different name so that a different branding can be created,” said Ashok Mishra, director, IIT Bombay.
“The older IITs are in the global league and are on the rising curve in terms of research and development. They are a different brand altogether,” he added.
A S Kolaskar, advisor, National Knowledge Commission, acknowledged that “there is a group which believes that the brand equity of the IITs and IIMs should not be diluted and thus they are working towards it. We too believe that the new institutes should be created on a different model and impart better technical education with liberal arts.”
The IITs were established and declared Institutes of National Importance by the government in 1951 to train scientists and engineers.
All IITs are autonomous universities that draft their own curricula. Some IITs were established with financial assistance and technical expertise from UNESCO, Germany, the United States, and the Soviet Union.
Each IIT is linked through a common IIT Council that oversees its administration.
About 15,500 undergraduate and 12,000 graduate students study in the seven IITs, in addition to research scholars.
They are of the view that calling the new institutes “IITs” would dilute the brand image of the existing premier institutes, which figure among the world’s 100 best technology universities and are compared with the likes of MIT, California University and Berkeley.
The seven IITs are located in Kharagpur, Mumbai, Chennai, Kanpur, Delhi, Guwahati and Roorkee.
With the government’s plan to set up eight new IITs in Rajasthan, Bihar, Andhra Pradesh, Himachal Pradesh, Orissa, Madhya Pradesh, Gujarat and Punjab, and the conversion of the institute of technology at Banaras Hindu University into an IIT, the total number of IITs will increase to 16.
The government has proposed to create the new IITs under the same mandate as the older ones so that they enjoy similar financial support, though they may have a different council.
“I am surely in favour of the government’s idea of creating new quality institutes like the IITs but they should be given a different name so that a different branding can be created,” said Ashok Mishra, director, IIT Bombay.
“The older IITs are in the global league and are on the rising curve in terms of research and development. They are a different brand altogether,” he added.
A S Kolaskar, advisor, National Knowledge Commission, acknowledged that “there is a group which believes that the brand equity of the IITs and IIMs should not be diluted and thus they are working towards it. We too believe that the new institutes should be created on a different model and impart better technical education with liberal arts.”
The IITs were established and declared Institutes of National Importance by the government in 1951 to train scientists and engineers.
All IITs are autonomous universities that draft their own curricula. Some IITs were established with financial assistance and technical expertise from UNESCO, Germany, the United States, and the Soviet Union.
Each IIT is linked through a common IIT Council that oversees its administration.
About 15,500 undergraduate and 12,000 graduate students study in the seven IITs, in addition to research scholars.
IITs show what sharing faculty is all about
The government appears to have hit upon a novel faculty-sharing solution to tackle the shortage of quality faculty at the premier Indian Institutes of Technology (IITs).
The shortage will accentuate now that eight new IITs have been announced.
The ministry of human resource development under Arjun Singh is understood to have approached the directors at these institutes, exhorting them to not only mentor the new IITs but also take additional charge of the new institutes initially.
A similar plan may be later laid out for the Indian Institutes of Management (IIMs) too.
The plan for IITs envisages that professors from the IITs in Delhi, Kanpur and Madras will mentor students at the new IITs in Rajasthan, Bihar and Andhra Pradesh, respectively, by shuttling to-and-fro and taking classes at both the institutes.
While one of the directors at these IITs, on condition of anonymity, confirmed the development, he also added: "The HRD Ministry did discuss its plans with us but we have not got any written communication from the ministry in this regard."
Last week, the HRD ministry announced the locations of eight new IITs and seven new IIMS. However, they have to first scale the faculty hurdle. "These institutes could be started in a temporary building, like that of IIM Shillong. But finding faculty is the biggest hurdle," said a Planning Commission member.
To begin operations, every IIT would require at least 50 whereas every IIM would require at least 20 faculty members.
The faculty crunch at IITs and IIMs is already acute. The seven existing IITs have 2,630 faculty members, according to the HRD ministry). It's estimated that they IITs require 3,500 to maintain their teaching standards. The situation at IIMs is little better.
The shortage will accentuate now that eight new IITs have been announced.
The ministry of human resource development under Arjun Singh is understood to have approached the directors at these institutes, exhorting them to not only mentor the new IITs but also take additional charge of the new institutes initially.
A similar plan may be later laid out for the Indian Institutes of Management (IIMs) too.
The plan for IITs envisages that professors from the IITs in Delhi, Kanpur and Madras will mentor students at the new IITs in Rajasthan, Bihar and Andhra Pradesh, respectively, by shuttling to-and-fro and taking classes at both the institutes.
While one of the directors at these IITs, on condition of anonymity, confirmed the development, he also added: "The HRD Ministry did discuss its plans with us but we have not got any written communication from the ministry in this regard."
Last week, the HRD ministry announced the locations of eight new IITs and seven new IIMS. However, they have to first scale the faculty hurdle. "These institutes could be started in a temporary building, like that of IIM Shillong. But finding faculty is the biggest hurdle," said a Planning Commission member.
To begin operations, every IIT would require at least 50 whereas every IIM would require at least 20 faculty members.
The faculty crunch at IITs and IIMs is already acute. The seven existing IITs have 2,630 faculty members, according to the HRD ministry). It's estimated that they IITs require 3,500 to maintain their teaching standards. The situation at IIMs is little better.
Wednesday, April 2, 2008
How to face failure
Good business schools boost your self-confidence by providing you with excellent business tools — discounted cash flows, game theory, organisational behaviour, financial accounting, and so on — all of which can help you manage and understand diverse work situations.
So when I finished business school, I was filled with the confidence of being able to handle the toughest problems and always emerge a winner. After all, we had cracked every case-study thrown at us.
We understood the mistakes made along the way and learnt the best practices of successful corporates around the globe. Thus armed, I returned to India with the objective of running my own company and a vow: never to be an employee again.
I had decided to start a venture in manufacturing diamond jewellery for export. No sooner than we started, the Government of India banned the export of jewellery containing gold. And that was it!
All the case-studies had not prepared me for such an eventuality. Naturally, the venture failed. Education assumes optimistic outcomes, starting with passing out from college, so we had not been taught how to handle failure.
So there I was, a young 30-year-old, newly married, fresh out of a premier B-school, with the rug pulled from under my feet. There was little capital left, except for a roof over our head, which was courtesy my dad. So what’s next? Should I give up and take up a job, or try again?
Let me share a framework that worked for me. First, I took a break with my wife, just to get away from the “scene of the crime”, so to speak. It allowed me to clear my mind.
Then I resisted the pressure to take the first thing that came along by allowing some time to think about why things happened as they did. It also gave me an opportunity to talk with friends and well-wishers who had nothing to do with the business.
I could deliberate on what I did wrong, and what I did right, allowing me to answer the key question “am I a failure as an entrepreneur or can I succeed?” When I resolved that my fundamental approach to being an entrepreneur was valid, I could move ahead with confidence in myself and in my ability to succeed.
It was very important to treat the business failure as a lesson, as a step in the game of life, to be able to persist with my objectives, with a determination that drew from the inner strength of deep introspection.
So when faced with a “game changing” failure, whether as an entrepreneur or as a manager, one needs to take a break, think through one’s objectives and lessons learnt, before moving onto the next phase, with persistence and a renewed determination to succeed.
So when I finished business school, I was filled with the confidence of being able to handle the toughest problems and always emerge a winner. After all, we had cracked every case-study thrown at us.
We understood the mistakes made along the way and learnt the best practices of successful corporates around the globe. Thus armed, I returned to India with the objective of running my own company and a vow: never to be an employee again.
I had decided to start a venture in manufacturing diamond jewellery for export. No sooner than we started, the Government of India banned the export of jewellery containing gold. And that was it!
All the case-studies had not prepared me for such an eventuality. Naturally, the venture failed. Education assumes optimistic outcomes, starting with passing out from college, so we had not been taught how to handle failure.
So there I was, a young 30-year-old, newly married, fresh out of a premier B-school, with the rug pulled from under my feet. There was little capital left, except for a roof over our head, which was courtesy my dad. So what’s next? Should I give up and take up a job, or try again?
Let me share a framework that worked for me. First, I took a break with my wife, just to get away from the “scene of the crime”, so to speak. It allowed me to clear my mind.
Then I resisted the pressure to take the first thing that came along by allowing some time to think about why things happened as they did. It also gave me an opportunity to talk with friends and well-wishers who had nothing to do with the business.
I could deliberate on what I did wrong, and what I did right, allowing me to answer the key question “am I a failure as an entrepreneur or can I succeed?” When I resolved that my fundamental approach to being an entrepreneur was valid, I could move ahead with confidence in myself and in my ability to succeed.
It was very important to treat the business failure as a lesson, as a step in the game of life, to be able to persist with my objectives, with a determination that drew from the inner strength of deep introspection.
So when faced with a “game changing” failure, whether as an entrepreneur or as a manager, one needs to take a break, think through one’s objectives and lessons learnt, before moving onto the next phase, with persistence and a renewed determination to succeed.
IIM-A raises fee almost three times
Studying at the premier Indian Institutes of Management (IIMs) is no longer cheap. The Indian Institute of Management Ahmedabad (IIM-A) today almost trebled the fee for its flagship two-year post-graduate (PGP) management programme from Rs 4 lakh to Rs 11.5 lakh, beginning from this academic year. The fees have gone up from Rs 2 lakh each year to Rs 5.5 lakh for the first year and Rs 6 lakh for the second.
Its fee hike is the highest among all IIMs. The institute had earlier announced a fee hike for its Post-Graduate Programme in Management for Executives (PGPX) from Rs 10 lakh to Rs 14 lakh for the 2008-09 batch.
ELITE LEAGUE
Change in fee structure for 2-year PGDBM course
Institutes ‘07 ‘08 change (%)
IIM A 4 11.5 187.5
IIM C 4 7 75
IIM B 5 8 60
IIM L 4 5 25
IIM I 3.8 To consider
Earlier this week, IIM-Bangalore too had hiked its fee from Rs 5 lakh to Rs 8 lakh. And earlier this month, IIM-Calcutta announced a fee hike of 75 per cent, from Rs 4 lakh to Rs 7 lakh, for its 2008-2010 batch. However, the 2009-2011 batch at IIM-C will shell out Rs 8 lakh for the PGP programme.
Vijaypat Singhania, chairperson, IIM-A board, said, “The IIMs should not be financially supported by anyone. Recently, IIT Bombay had to ask the government for funds, which was a shameful state of affairs. I do not want this to happen to IIM-A. IIMs should not be dependent on outside resources. IIM-A is capable of standing on its own feet.”
He added, “I am not supporting profiteering in educational institutes. But creating surplus is important. The government (HRD Ministry) needs to give more autonomy to such institutes that create a great tomorrow. If the government interferes in the institute’s affairs, the basic foundation of the institute will be shaken.”
The IIMs are increasing the fees in view of rising costs and to meet growing expenditure, while providing better opportunities and improved facilities to the students.
IIM-A, IIM-C and IIM-B do not receive grants from the government and support their academic activities with their own funds. The three IIMs are planning to better the salaries of their professors and an increased fee would help in doing just that.
Its fee hike is the highest among all IIMs. The institute had earlier announced a fee hike for its Post-Graduate Programme in Management for Executives (PGPX) from Rs 10 lakh to Rs 14 lakh for the 2008-09 batch.
ELITE LEAGUE
Change in fee structure for 2-year PGDBM course
Institutes ‘07 ‘08 change (%)
IIM A 4 11.5 187.5
IIM C 4 7 75
IIM B 5 8 60
IIM L 4 5 25
IIM I 3.8 To consider
Earlier this week, IIM-Bangalore too had hiked its fee from Rs 5 lakh to Rs 8 lakh. And earlier this month, IIM-Calcutta announced a fee hike of 75 per cent, from Rs 4 lakh to Rs 7 lakh, for its 2008-2010 batch. However, the 2009-2011 batch at IIM-C will shell out Rs 8 lakh for the PGP programme.
Vijaypat Singhania, chairperson, IIM-A board, said, “The IIMs should not be financially supported by anyone. Recently, IIT Bombay had to ask the government for funds, which was a shameful state of affairs. I do not want this to happen to IIM-A. IIMs should not be dependent on outside resources. IIM-A is capable of standing on its own feet.”
He added, “I am not supporting profiteering in educational institutes. But creating surplus is important. The government (HRD Ministry) needs to give more autonomy to such institutes that create a great tomorrow. If the government interferes in the institute’s affairs, the basic foundation of the institute will be shaken.”
The IIMs are increasing the fees in view of rising costs and to meet growing expenditure, while providing better opportunities and improved facilities to the students.
IIM-A, IIM-C and IIM-B do not receive grants from the government and support their academic activities with their own funds. The three IIMs are planning to better the salaries of their professors and an increased fee would help in doing just that.
After IIMs, IITs plan to hike fees
After IIMs, IITs plan to hike fees
BS Reporter / New Delhi April 2, 2008
Around a decade after they last raised fees, the Indian Institutes of Technology (IITs) have approached the government for permission to double annual tuition fees from June this year, when a new batch of 4,100 students begin studying at the IITs.
Confirming the development, Surendra Prasad, director, IIT Delhi, said, "There has been a proposal to raise the fee for some time now."
Sources said the directors of all the seven IITs wrote to the prime minister a month ago requesting higher fees.
An IIT student pays an annual fees of Rs 25,000.
"Though we propose to double the fees, the fact is that we have not raised fees for a long time now, and the fee increase is not all that stiff when compared with private institutions," Prasad added.
On whether the fee increase will apply to students who are already enrolled at Kharagpur, Mumbai, Chennai, Delhi, Kanpur, Guwahati, and Roorkee, Prasad said, "We will decide whether or not it will apply to existing students once the government allows us to raise fees."
The move comes just ahead of the Joint Entrance Examination scheduled for April 13. About 200,000 students will take the test
The move follows steep fee increases by the Indian Institutes of Management (IIM) from this academic year. Top-ranked IIM-Ahmedabad has increased the course fee from Rs 4 lakh to Rs 11.5 lakh and IIM Bangalore has raised it to Rs 8 lakh from Rs 5 lakh.
A professor of IIT Roorkee said the IITs have also asked for capacity expansions at existing IITs, enhanced scholarships for the M. Tech programme and more faculty recruitment.
"A major portion of our funding, around 70 per cent, comes from the human resource development ministry. Around 30 per cent of the resources are being generated from activities like research and collaboration. Although fees are not a big source of our income, increasing them would help us strengthen our resources," Prasad said.
BS Reporter / New Delhi April 2, 2008
Around a decade after they last raised fees, the Indian Institutes of Technology (IITs) have approached the government for permission to double annual tuition fees from June this year, when a new batch of 4,100 students begin studying at the IITs.
Confirming the development, Surendra Prasad, director, IIT Delhi, said, "There has been a proposal to raise the fee for some time now."
Sources said the directors of all the seven IITs wrote to the prime minister a month ago requesting higher fees.
An IIT student pays an annual fees of Rs 25,000.
"Though we propose to double the fees, the fact is that we have not raised fees for a long time now, and the fee increase is not all that stiff when compared with private institutions," Prasad added.
On whether the fee increase will apply to students who are already enrolled at Kharagpur, Mumbai, Chennai, Delhi, Kanpur, Guwahati, and Roorkee, Prasad said, "We will decide whether or not it will apply to existing students once the government allows us to raise fees."
The move comes just ahead of the Joint Entrance Examination scheduled for April 13. About 200,000 students will take the test
The move follows steep fee increases by the Indian Institutes of Management (IIM) from this academic year. Top-ranked IIM-Ahmedabad has increased the course fee from Rs 4 lakh to Rs 11.5 lakh and IIM Bangalore has raised it to Rs 8 lakh from Rs 5 lakh.
A professor of IIT Roorkee said the IITs have also asked for capacity expansions at existing IITs, enhanced scholarships for the M. Tech programme and more faculty recruitment.
"A major portion of our funding, around 70 per cent, comes from the human resource development ministry. Around 30 per cent of the resources are being generated from activities like research and collaboration. Although fees are not a big source of our income, increasing them would help us strengthen our resources," Prasad said.
IITs seek govt approval to double fees from June
Around a decade after they last raised fees, the Indian Institutes of Technology (IITs) have approached the government for permission to double annual tuition fees from June this year, when a new batch of 4,100 students begin studying at the IITs.
Confirming the development, Surendra Prasad, director, IIT Delhi, said, "There has been a proposal to raise the fee for some time now."
Sources said the directors of all the seven IITs wrote to the prime minister a month ago requesting higher fees.
An IIT student pays an annual fees of Rs 25,000.
"Though we propose to double the fees, the fact is that we have not raised fees for a long time now, and the fee increase is not all that stiff when compared with private institutions," Prasad added.
On whether the fee increase will apply to students who are already enrolled at Kharagpur, Mumbai, Chennai, Delhi, Kanpur, Guwahati, and Roorkee, Prasad said, "We will decide whether or not it will apply to existing students once the government allows us to raise fees."
The move comes just ahead of the Joint Entrance Examination scheduled for April 13. About 200,000 students will take the test
The move follows steep fee increases by the Indian Institutes of Management (IIM) from this academic year. Top-ranked IIM-Ahmedabad has increased the course fee from Rs 4 lakh to Rs 11.5 lakh and IIM Bangalore has raised it to Rs 8 lakh from Rs 5 lakh.
A professor of IIT Roorkee said the IITs have also asked for capacity expansions at existing IITs, enhanced scholarships for the M. Tech programme and more faculty recruitment.
"A major portion of our funding, around 70 per cent, comes from the human resource development ministry. Around 30 per cent of the resources are being generated from activities like research and collaboration. Although fees are not a big source of our income, increasing them would help us strengthen our resources," Prasad said.
Confirming the development, Surendra Prasad, director, IIT Delhi, said, "There has been a proposal to raise the fee for some time now."
Sources said the directors of all the seven IITs wrote to the prime minister a month ago requesting higher fees.
An IIT student pays an annual fees of Rs 25,000.
"Though we propose to double the fees, the fact is that we have not raised fees for a long time now, and the fee increase is not all that stiff when compared with private institutions," Prasad added.
On whether the fee increase will apply to students who are already enrolled at Kharagpur, Mumbai, Chennai, Delhi, Kanpur, Guwahati, and Roorkee, Prasad said, "We will decide whether or not it will apply to existing students once the government allows us to raise fees."
The move comes just ahead of the Joint Entrance Examination scheduled for April 13. About 200,000 students will take the test
The move follows steep fee increases by the Indian Institutes of Management (IIM) from this academic year. Top-ranked IIM-Ahmedabad has increased the course fee from Rs 4 lakh to Rs 11.5 lakh and IIM Bangalore has raised it to Rs 8 lakh from Rs 5 lakh.
A professor of IIT Roorkee said the IITs have also asked for capacity expansions at existing IITs, enhanced scholarships for the M. Tech programme and more faculty recruitment.
"A major portion of our funding, around 70 per cent, comes from the human resource development ministry. Around 30 per cent of the resources are being generated from activities like research and collaboration. Although fees are not a big source of our income, increasing them would help us strengthen our resources," Prasad said.
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