Top business school of the country, Indian Institute of Management Ahmedabad or IIM-A has issued a statement regarding the fee hike that will be implemented from the next academic session for the upcoming batch of 2018-20.
Flagship courses of IIM-A, Post Graduate Programme in Management (PGP) and Post Graduate Programme for Executives (PGPX) will witness the fee hike.
Currently, these management programmes cost Rs. 21.5 lakh for two years. However, now the fee structure has been altered and it will now cost management students an amount of Rs. 22 lakhs for the entire programme tenure. The associated costs including tuition, course materials, library fees, accommodation rent, placement services as well as IT resources such as laptops etc. are all a part of the new fee structure.
The Board of Governors (BoG) of IIM-A approved the 5% fee hike. The increment in fees was announced during the 53rd convocation of the institute, Saturday, March 24, 2018
It was stated in the release that following the general inflation and the updates of the Seventh Pay Commission has led to an upward push as regards the cost of the programme.
With an emphasis on efficiency improvement, while providing world-class educational facilities, the institute aims to produce excellent leaders and managers in future. Additionally, the institute works towards ensuring that no worthy candidate is denied admission or entry to the PGP courses just because of the lack of financial aid. In the year 2016-2017, the institute provided disbursements to at least one-third students who enrolled for the programmes.
Interestingly, IIM Ahmedabad had also increased its fees in March 2017 from Rs. 19.5 lakhs to Rs. 21.5 lakh.