Ahmedabad, Mar 29 (ANI): India's premier management institute, the Indian Institute of Management, Ahmedabad (IIM-A) plans a hike in fees for its Post Graduate Programme in Management (PGPM) y Rs 50,000 from 2010-11.
Talking to reporters after a meeting of IIM-A Board of Governors headed by Vijaypath Singhania in Ahmedabad on Sunday, institute Director Samir Baura said, "Last year we had decided that the fee for PGPM for 2008-09 would be Rs 5.5 lakh and for 2009-10 it would be Rs 6 lakh. The board today decided that the fee for year 2009-10 for the incoming batch will remain the same."
"But for the second year, that is 2010-11, the fee will be Rs 6.5 lakh, an increase of Rs 50,000. So the batch of 2009-11 of the PGPM will be paying a maximum of Rs 12.5 lakhs for the course," he added.
However, Baura clarified that the fee waiver scheme started by the institute last year would continue for the next year.
"There were 21 students last year who did not have to pay anything at all for the course," he said.
Justifying the decision of the management institute to increase the fee, Baura said, "With passage of time the cost of teaching goes up. We have to account for increase in the cost of everything."
Baura also pointed out that due to the increase in the OBC (other backward class) quota from six per cent to 13 per cent, the fee collection would stoop.
"OBC applies to mainly non-creamy layer so the income levels will be below Rs 4.5 lakh per annum. Therefore large number of OBC students will be entitled for subsidies under our fee waiver scheme," he said. (ANI)