The Indian Institute of Management, Ahmedabad (IIM-A), on Sunday decided to raise its post-graduate tuition fees for first and second year students by Rs.50,000 annually from the 2010 academic session.
Fees for first-year students will be be increased from Rs.5.5 lakh per annum now to Rs.6 lakh, and that for second-year students from Rs.6 lakh to Rs 6.5 lakh, a senior official of the institute told IANS.
Maintaining that fees were not hiked for the 2009 academic session, he said the IIM-A board of governors took the decision Sunday in the presence of its chairman and industrialist Vijayapat Singhania.
The official said the fee waiver policy for the Other Backward Classes (OBC) students as recommended by the central government in 2007 remains in vogue and there were no changes made in the new fee structure decided Sunday.
IIM-A cited rising operating costs following the implementation of the Sixth Pay Commission recommendations as the reason behind the fee hike.