IIM-Ahmedabad hikes fee
In last 3 yrs, institute has maintained its fees at Rs 1.58 lakh per year.india Updated: Apr 03, 2006 11:45 IST
The Indian Institute of Management-Ahmedabad (IIM-A) on Sunday raised its annual fee for the two-year post-graduate programme from Rs 1.58 lakh to Rs 1.77 lakh.
IIM-A announced launch of three separate programmes in Singapore, Dubai and Muscat.
The announcement on the 12 per cent fees increase came after the board of governors of the premier institution met in Ahmedabad under the chairmanship Infosys mentor NR Narayanamurthy and approved the measure.
"The IIM-A board of directors have decided to increase the fees for the post-graduate programme (PGP) courses from Rs 1.58 lakh per annum to Rs 1.77 lakh", Narayanmurthy said.
The hike which comes after a gap of three years will, however, not affect the students from the lower income group who come to study at the IIM-A from across the country, Narayanmurthy assured in the presence of the institute's director Bakul Dholakia.
Narayanamurthy said the decision on the fee hike was made keeping in mind escalation of costs.
"We discussed matters related to escalation of costs and consequently the board arrived at a consensus to raise the fees. This raise in fees is probably less than the annual rate of inflation," he remarked.
He said the increased fees for the PGP courses was just 30 per cent of the average salary bagged by IIM-A students during annual placements.
Last year, the average salary of the students passing out of IIM-A was Rs 7.5 lakh and this it went up to Rs ten lakh, he pointed out.