Seven IIMs hiked training prices in past years

IIM Kozhikode hiked tuition fees by 23.1%, IIM Trichy by 20%, IIM Ranchi by 19% and IIM Calcutta by 17.3%. Photo: Hindustan Times

IIM Kozhikode hiked training fees by 23.1%, IIM Trichy with the aid of 20%, IIM Ranchi with the aid of 19% and IIM Calcutta via 17.three%. photograph: Hindustan times
New Delhi: Seven Indian Institutes of management (IIMs) hiked route costs with the aid of five% to 30%inside the past academic years, the human aid development ministry stated on Monday.

IIM Lucknow crowned with a hike of 29.6%, even as IIM Ahmedabad noticed the smallest trade at five%,similar to IIM Shillong, HRD minister Smriti Irani informed Parliament on Monday, putting forward that themove had little impact on terrible college students.

There are 19 IIMs in the us of a.

IIM Kozhikode hiked training fees by way of 23.1%, IIM Trichy via 20%, IIM Ranchi through 19% and IIM Calcutta by 17.three%, the HRD minister said.

The trendy round of hikes came about as lately as March-April.

IIM costs have been within the range of Rs.10 lakh to Rs.19.5 lakh for the flagship postgraduate programme in management.

price hikes are a part of the contentious IIM invoice, supposed to give the HRD ministry extra control over the functioning of the elite commercial enterprise faculties. The bill has been adversarial by way of the institutes, their alumni associations and governing boards.

In June closing yr, A.M. Naik, then chairman of IIM Ahmedabad and institution government chairman of Larsen and Toubro Ltd, and J.J. Irani, chairman of the board of governors of IIM Lucknow, wrote to the HRD ministry, protesting towards the “sweeping centralization of electricitythrough the bill.

within the face of complaint, the bill has been redrafted, but it has no longer been tabled in Parliament yet.the brand new draft has no longer been made public either.

Irani stated on Monday that the hike in lessons prices did not have an effect on the pupil populace as IIMs provide a number of financial help and help in securing loans.

“The hike in training price has now not adversely affected the terrible and decreasemagnificence college students given that institutes increase financial assistance, together with full tuition charge waiver andpreservation allowance, to needy students. similarly, different students are facilitated in gettingeducational loans from banks,” Irani stated.

price hike in IIMs has by no means been a hassle for our students. as soon as a pupil gets decided onfor an IIM, banks are extra than willing to offer a loan… the go back on funding is quite handsome,” saidan IIM professor who did not want to be named.

The average income an IIM graduate receives on of completion of the course levels between Rs.elevenlakh and Rs.17 lakh in line with annum.

The professor said that the HRD ministry’s explanation at the rate hike to Parliament is critical from twoangles—first, the ministry does not consider that the hike is retrograde and, second, it may be a demonstration of what’s in store within the new IIM invoice.

Irani stated IIM expenses are not linked to those of other instructional institutions. “IIMs areindependent establishments and are ruled by using their respective memoranda of association andpolicies of the society, which consist of the fixing of charges and other charges as consistent withprovisions contained therein,” she said.