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.