Three Indian Institutes of Management (IIMs) have increased their fees by at least 50 per cent and the new price will be implemented from the coming academic session, Human Resource Development (HRD) Minister Arjun Singh informed Parliament on Tuesday.
"The boards of governors of only three IIMs, those at Ahmedabad, Bangalore and Calcutta, have so far decided to raise the fees for the postgraduate programme from the next academic year," Singh informed the Lok Sabha in a written reply.
With this decision, fees for the first year for students joining IIM-Ahmedabad and IIM-Calcutta will be Rs 300,000 from the upcoming academic year, against Rs 200,000 now.
IIM-Bangalore has increased the fee from Rs 250,000 for a year to 400,000 for the same period.
India has six IIMs. The other three are in Lucknow (Uttar Pradesh), Indore (Madhya Pradesh) and Kozhikode (Kerala).
The minister said the central government has not opposed this fee hike.
"Everything is becoming costly. The logistics and other requirements to fulfil the educational need are also becoming expensive. It's a unanimous decision," a senior IIM-Ahmedabad professor told IANS.