Fees for students enrolling for the post-graduate diploma in management course in premier B-schools will be significantly reduced starting this year.
The state higher and technical education department’s fee fixation committee will now decide the fee structure for the much-sought-after two-year course, according to a new regulation brought in by the All India Council for Technical Education (AICTE).
Colleges have so far decided their own fees.
With the new rule, the fees — usually in the range of Rs 5 lakh to Rs 15 lakh — are expected to come down by as much as 50%. The rule will be applicable for 55 B-schools in the state conducting the approved course, including SIES Nerul, SP Jain, KJ Somaiya, Welingkar’s, MET Bandra and Chetana College in Mumbai, and will benefit about 8,000 students a year.
Institutes will also no longer be allowed to hold their own entrance exams but will have to take state-held common entrance tests, thus ensuring state control over 80% of the general quota seats.
“The state fee fixation committee will try to bring in a common-range fee structure, just like that for the state-run Masters in Management Studies (MMS),” said SK Mahajan, director of technical education.
The two-year MMS course has a fixed fee structure, with fees ranging from Rs 70,000 per year to Rs 1.75 lakh per year.