According to sources, Indian Institute of Management, Lucknow is planning to hike the course fee for the two-year Post-Graduate Programme (PGP) in Management by 15%. The institute might implement the new fee structure for the academic session 2017-19.
Dr. Arjit Prasad, Director of IIM Lucknow revealed that the fee for the two-year PGP is expected to be hiked from Rs. 14 lakh to Rs. 16 lakh. Currently, the proposal for the new fee structure is under consideration and the Board of Governors is yet to approve it. He further added that the BoG will decide upon the fee hike at a meeting that will take place on March 20, 2017.
Dr. Arjit Prasad further explained that Indian Institute of Management, Kozhikode raised its fee to Rs. 16 lakh recently. IIM Lucknow also decided to hike the course fee to be at par with three other IIMs of the league including IIM Kolkata, IIM Bangalore and IIM Ahmedabad.
If the institute goes ahead with the plan, it will be for the second consecutive year that a fee hike will take place. Last year, the fee structure of IIM-L was hiked by 30% for the 2016-18 batch. During the academic session 2013-15, the tuition fee for the two-year PGP in Management was Rs. 10.8 lakh.
Director of IIM Lucknow further revealed that they had slashed the fee from Rs. 12 lakh to Rs. 10.8 lakh in the year 2013. Later, they revised the fee structure in the year 2016.
On the other hand, the good news is that the new batch of 2017-19 will receive MBA degrees instead of diploma with the passing of the IIM Bill by the parliament.