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LATEST
NEWS |
31st
March 2010 / Times of India / Bangalore Edition
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 IIM-A flagship course to cost Rs 13.7 lakh
Hike To Offset 6th Pay Panel And Rising Operating Costs
Ahmedabad: To replenish the exhausted corpus, for payment of arrears according to the Sixth Pay Commission or making the flagship Post-Graduate Programme (PGP) in Management self sustaining, the Indian Institute of Management, Ahmedabad (IIM-A) has increased the fee consecutively for the third year. From Rs 5 lakh for the two-year residential PGP course in 2007, it is now priced at Rs 13.7 lakh.
A communication sent by IIM-A declared that the fee for the PGP batch of 2010-12 has been revised to Rs 13.7 lakh. The institute had revised the fee to Rs 11.5 lakh for the batch of 2008 and then increased to Rs 12.5 lakh for the batch of 2009.
“The fees of Rs 13.7 lakh will include Rs 6.6 lakh for the first year and the remaining Rs 7.1 lakh for the second year. The fee includes all costs other than cost of food,” says the communication from the institute. The decision has been taken after the proposal of the fee hike was moved in the recently conducted meeting of the board of governors.
“The fee has been arrived at after taking into account the significant increase in costs due to implementation of Sixth Pay Commission’s recommendations as well as general rise in operating costs due to high inflation in the economy. The fee is about 9.6% higher than the fee for 2009-11 batch,” says the institute.
IIM-A would continue to provide fee waiver scheme, that they introduced in 2008, where a student belonging to a family with income less that Rs 1 lakh per annum will have to pay no fee. The fee for each student is calculated individually depending on the family income. In the batch admitted in June 2009, 41 students benefitted from this scheme.
The decision of fee hike in 2008 was opposed by many members of the board of governors, Union HRD ministry and the state government representatives on the board of governors. The institute also sent out letters to the alumni explaining to them the exponential increase in the fee.
In 2008, the objectives of the fee hike was said to be for providing relief to students who come from relatively lower income families, continuing to significantly subsidize the PGP from the surplus generated from other activities of the institute and ensuring that the institute is able to set aside resources for adding to infrastructure for growth as well improving the quality of infrastructure.
GOING OUT OF REACH?
IIM-A revised the fee for Post-Graduate Programme (PGP) in Management to Rs 11.5 lakh for the batch of 2008.
For the batch of 2009, fee was hiked to Rs 12.5 lakh
Institute has revised the fee for 2010-12 batch again to Rs 13.7 lakh |
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