IIM-A to hike fees by 9.6% to Rs13.7 lakh

IIM-A to hike fees by 9.6% to Rs13.7 lakh

Fee hikes at IIMs have been controversial in the past, with the government, which owns these premier business schools, resisting fee increases

New Delhi: The Indian Institute of Management at Ahmedabad or IIM-A said on Tuesday it is hiking fees by 9.6% to Rs13.70 lakh for its flagship two-year post-graduation programme for the Class of 2012 which will gain admission this year.
The fees include all costs other than food. “The fee has been arrived at after taking into account the significant increase in costs due to implementation of 6th Pay Commission’s recommendations as well as general rise in operating costs due to high inflation in the economy”, said a press statement on the school’s website.
A school PRO declined to say how much the fees was earlier. She said the calculations showed the fees was 9.6% higher than for the Class of 2011.
Fee hikes at IIMs have been controversial in the past, with the government, which owns these premier business schools, resisting fee increases. The IIMs have said they are autonomous schools and have a right to raise their fees.
The IIM in Bangalore said on Monday it will raise fees to Rs13 lakh from Rs11.5 lakh, for the Class of 2012, PTI reported. The decision was taken at a meeting of the board of directors, chaired by Mukesh D Ambani.
IIM-B director, Prof Pankaj Chandra told reporters that the students will pay fee of Rs6 lakh in the first year of study, and the remaining Rs7 lakh in the second.
The IIMs stressed that the schools will continue to provide fee waivers to students based on family income. At IIM-A, 41 students of a total of 310, or 13% of the class, studied free in the academic year 2009-10.

Source Link: http://www.livemint.com/2010/03/30233200/IIMA-to-hike-fees-by-96-to.html