Indian Institute of Management, Ahmedabad (IIM-A) has hiked the fee for its two-year postgraduate programme in management to Rs 23 lakh from 2019 onward. With an increase of 4 per cent as per reports by media.
As per Moneycontrol, the institute has hiked its fees for the fourth year in a row. Last year, the fee was hiked from Rs 21 lakh to Rs 22 lakh. Other IIMs may also follow suit and hike the fee by 3-4.5% in this year due to inflationary pressures. “Costs have been on the rise and the fees are inadequate to meet the rising expenses. Fees could rise by up to 4.5 per cent across the institutes. But students can get access to the scholarship opportunities,” a senior IIM executive was quoted as saying in the report.
As all the IIMs are centrally funded institutes, but they have the autonomy to decide their fee structure. In Budget 2018-19, the IIMs were proposed to be given an allocation of Rs 1,036 crore. But the actual grant was Rs 372 crore. In the interim budget for 2019-20, IIMs are proposed to be given Rs 415.41 crore.
There are 20 IIMs in the country and IIM Ahmedabad is the most prestigious organization for management courses. IIM – A is always been the best choice for students who are appearing for CAT. And with many reasons in hand like faculty standard, pedagogy, learning with cases and expert meets and opinion.
With fees, the placement scenario also seems to be changed. A total of 593 students were given degrees at the convocation held at the Louis Kahn Plaza in the IIM-A campus on Sunday. Of them, 398 students belonged to the PGP batch 2017-19.