To cope with rising expenditure on salaries and infrastructure, the premier Indian Institutes of Management are planning to increase fees by Rs 100,000-200,000 for their two-year post graduate programmes.
IIM-Bangalore's board of governors, chaired by Mukesh Ambani, decided on Monday to increase the fees from Rs 11.5 lakh (Rs 1.15 million) to Rs 13 lakh (Rs 1.3 million) for the incoming batch of 2010.
A couple of days earlier, IIM Ahmedabad said it would hike the fees for its two-year PGP course.
IIM-Kozhikode, too, decided to hike its PGP fee by Rs 100,000 to Rs 10 lakh (Rs 1 million) from the next academic year. Debashish Chatterjee, director of IIM-K, told Business Standard:
"The board has decided to increase the fee by Rs 1 lakh for PGP students from 2011 academic year. Currently, our fee is Rs 900,000 for two years."
Likewise, IIM Calcutta is exploring an increase in fee once again this year. Dinesh Verma, chief administrative officer of IIM Calcutta, said: "We will have a board meeting on April 3, where we will decide on whether or not to hike fees once again."
IIM-Shillong, too, is expected to raise its fees to over Rs 3,50,000 from the current Rs 1,90,000. However, the board will meet on April 3 to decide the exact quantum.
IIM Lucknow, though, will not raise its fees immediately.
