After the fee hike at the IITs (Indian Institute of Technology), it is now the turn of premier Indian B-schools to raise their fee structure. IIM-A (Indian Institute Management - Ahmedabad) aspirants will now have to spend more than what they had originally budgeted to study in their dream institute. India’s top B-school has become expensive once again.
IIM-A, which is the top ranked institute among all IIMs is currently leading the pack with an annual fee of Rs 16.6 lakh. The new fee structure will be applicable for the 2013-15 batches, while the total number of enrollments will remain the same as previous year - 385.
The initial academic fee structure for the 2012-14 batch for the Post-Graduate Program (PGP) in IIM-A was around Rs 7.4 lakh. In 2008, IIM-A declared a six fold fee hike from Rs 2 lakh to Rs 11.5 lakh. Once again, after 2 years, a hike was announced for the institute’s flagship 2-year PGP program in management, where the fee was hiked to Rs 15.5 lakh for the 2012-14 batch.
After IIM-A, the next in the line to announce a fee hike was IIM-Raipur. Although it was only a slight increase - the fee has increased to Rs 9.6 lakh from last year’s Rs 9 lakh – this means students will have to pay an additional Rs 60,000.
The IIMs yet to finalize the hike in their fee structures include IIM Calcutta and IIM-Kozhikode. These institutes have charged Rs 10 lakh for the academic batch of 2012-14.
With a fee hike of Rs13 lakh last year, IIM-Bangalore will take a decision in the coming week for this year’s fee hike. The IIMs, which have not hiked their fee structure for this academic year, include IIM Lucknow, IIM Kashipur and IIM Rohtak.
Cut offs and increase in number of seats at the IIMs:
Out of the 7 IIMs, IIM Uttarakhand (Kashipur) will hike the number of seats from previous year’s 40 to 90 this year.
IIM Kozhikode is likely to increase their intake from last year’s 360, to 400 this year, whereas IIM Calcutta is expected to decrease their intake this year from 463 to approximately 450. The final numbers will be announced after determining the number of interview candidates who meet the final eligibility criteria.
Source : Time of India