One of the country's premier management institutes, the Indian Institute of Management, Lucknow has increased its annual fee by Rs 10,000 to match it with the fee charged by the other IIMs.
After the hike, the annual fee will be around Rs 135,000. The revision is as per the decision by the IIM directors to bring uniformity in the fee structure of all the six IIMs in three years.
Going by this, the IIMs in Kolkata, Indore and Kozhikode had already increased their fee. Devi Singh, Director, IIM Lucknow, said the decision to hike the fee was to rationalise the fee structure as the institute was offering the same academic course as that of the other IIMs.
IIM Lucknow's total course fee per student was about Rs 300,000, of which, the student now paid 40 per cent, Singh said. Now, after the revision, the student would have to pay 42 per cent of the entire course fee.
The fee structure could still further be revised and the student might be asked to pay up 50 per cent of the course fee, Singh said.