Be prepared to shell out a huge premium to enter the country’s premier B-schools. Three Indian Institutes of Managements (IIMs) are set to effect a big hike in fees from the next academic session. Along with IIM-Ahmedabad and IIM-Bangalore, IIM-Calcutta too is all set to increase its course fee for the 2008-2010 academic session.
While IIM-Ahmedabad students would face one of the steepest hikes, followed by IIM-Bangalore, it seems that IIM-Calcutta would go in for a moderate hike. IIM-Ahamedabad is expected to raise its fees to a whopping Rs 3 lakh for the 2008-2010 batch, compared to Rs 2 lakh now. IIM-Bangalore is likely to raise its fee from the present Rs 2.5 lakh to Rs 2.75 lakh.
IIM-Calcutta, which currently charges Rs 2 lakh from its post-graduate students per year, however, is not bothered about the fee hikes proposed by the other two IIMs and has decided not to go for a big jump. IIM-C might hike the tuition fee by not more than Rs 25,000 to Rs 2.25 lakh. In 2007, IIM-C raised its tuition fee from Rs 1.75 lakh to Rs 2 lakh while IIM-A had raised its tuition fee from Rs 1.77 lakh to Rs 2 lakh. But IIM-B chose to increase its fee by Rs 75,000 in 2007, from Rs 1.75 lakh to Rs 2.5 lakh.
The final decision regarding the fee hikes at all the IIMs will be taken by their respective Boards of Governors. IIM-C board will meet on February 26. But the institute is already examining several parameters to arrive at the exact amount to be increased. Ajit Balakrishnan, chairman of the IIM-C board of governors is to discuss the proposed fee hike with the faculty and administration.
The three IIMs have decided to increase their flagship two-year PGP programme tuition fee despite reservations being voiced by HRD ministry officials, who are slated to press for smaller hikes at the board meetings.