Virtual Shiksha

IIM Ahemedabad has increased fees for two post graduate courses by Rs 23,000 to Rs 2 lakhs.

"The fees have been hiked from Rs 1.77 lakh to Rs two lakh," IIM-Ahmedabad Chairman Vijaypat Singhania told reporters after the institute's board of governors met here to decide on the matter.

The fees for the postgraduate programme for executives (PGPX) too was hiked from Rs 10 lakh to Rs 14 lakh.

According to Singhania, the IIM-A annually spends Rs 4 lakh per student for the management programme. "The cost of education is rising very rapidly due to inflation," he said.

"Keeping these issues in mind, it is a very nominal hike," he remarked.

IIM-A Director Bakul Dholakia said the board of governors had taken a unanimous decision to hike the fees. The 50 per cent subsidy given to all students will be funded from other incomes of the IIM-A, he said.

The institute does not take any financial aid from the Government, he added.

The hike in fees will be applicable from this academic year, Dholakia said.