It also increased the student intake to 350 to accommodate the 27 per cent OBC quota from academic year 2009-2010.
The post-graduate programme starting with the 2009-11 batch will have to cough up Rs 5.25 lakh in the first year and Rs 5.75 lakh in the second. After last year's fee revision, the students were paying Rs 9 lakh (Rs 4 lakh in Ist year, Rs 5 lakh in IInd).
After the meeting of the Board of Governors, IIM-B director Prof Pankaj Chandra said, “Though there was a proposal to hike fees by Rs 2.5 lakh, we decided on a hike of Rs 2 lakh.
Earlier, the IIMB charged around Rs 9.5 lakh for its PG programme. The fee was split into Rs 4.5 lakh for the first year and Rs 5 lakh for the second.
Justifying the hike, he said: “As per the Sixth Pay Commission, teachers" pension has been increased. We have around 200 professors and the pension has gone up significantly."