The Indian Institute of Management, Calcutta, has hiked its tuition fees by 50 per cent from the 2010 academic session. The hike is the steepest in the history of IIM-C. On Saturday, the IIM-C board of governors decided to raise the tuition fee for the postgraduate diploma in management course by Rs. 4.5 lakh. Currently the students pay Rs. 9 lakh.

After the hike, students who take admission in the IIM-C for the 2010-2012 academic session will have to pay Rs. 13.5 lakh as tuition fee.

Early this week, IIM Ahmedabad and IIM Bangalore hiked their tuition fees to Rs. 13.7 lakh and Rs. 13 lakh, respectively.

“This hike brings IIM-C’s tuition fee on a par with IIM-A and IIM-B. We have been doing very well for the last couple of years. And this year, our placement was best among all the IIMs. Moreover, our operation cost too had gone up,” Ajit Balakrishnan, chairman of the IIM-C board of governors, said.

“After the increase of intake due to implementation of the OBC quota, we have the biggest batch size among all the IIMs. We are building infrastructure for our new batch... For this we need more money,” he added.