IIM-A hikes fees by 12% to Rs 1.77 lakh

The Indian Institute of Management, Ahmedabad (IIM-A), has increased its two-year post-graduate programme (PGP) course fee by 12 per cent, from Rs 1.58 lakh to Rs 1.77 lakh, this academic year onwards.

Confirming this, NR Narayana Murthy, chairman of board of governors and chief mentor, Infosys, told reporters, "Considering that the fee has not been raised in the last three years, the hike is about three-and-half per cent, which is less than inflation."

The average salary offered to PGP students by India Inc also increased from Rs 7.5 lakh to Rs 10 lakh per year, which was about 25 to 30 per cent more, he added.

When asked about the remuneration of IIM-A teachers, Murthy said, "There should be an autonomy for us to decide the remuneration. But we are working on mechanisms to give incentives to the faculty without any constraint on the students."

He further said the fee hike would not affect the needy students as the IIM-A met the full expenses of the course and offered scholarships.

The annual spend on each student was estimated to be around Rs 3.68 lakh, and Rs 1.77 lakh were about half of the expense, Murthy said.

"We are also offering an Advanced Management Programme in ESSEC's Singapore campus. We are starting with an open enrolment programme for executives in collaboration with Duke University," Murthy added.