With the implementation of the new fee structure for 2013-15 batch, students will have to shell out Rs16.58 lakh. The 2012-14 batch paid around Rs 15.5 lakh after the fee hike was proposed in December 2011. These students will have to pay Rs 7.40 lakh in three installments in first academic year.
Getting a management certificate from Indian Institute of Management, Ahmedabad, just got more expensive. The Board of Governors (BoG), in a meeting on Wednesday, sanctioned 7% fee hike for the new batch of Post-Graduate Program in Management (PGP) and Post-Graduate Program in Agri-Business management (PGP-ABM) to be inducted in 2013.
With the implementation of the new fee structure for 2013-15 batch, students will have to shell out Rs16.58 lakh. The 2012-14 batch paid around Rs 15.5 lakh after the fee hike was proposed in December 2011. These students will have to pay Rs 7.40 lakh in three installments in first academic year.
A senior IIMA official, who attended the BoG meeting, told DNA that the hike in the current structure of fee was sanctioned keeping in mind long-term expansion plans of the institute and other maintenance expenses. “Everything has become so expensive. The expenditure on electricity, salary and other maintenance has gone up. Inflation has also gone up. The fee hike implemented is lesser than the inflation rate,” said the source close to the development.
The BoG had met to discuss revised financial plan for the institute for the year 2012-13 and propose budget for 2013-14. Faculties in the campus expected to move a step further in the hunt of the new director. While a source maintained that no names were put forward, another member said that a few names including those of Prof Ravindra Dholakia, Prof G Raghuram and Prof Rakesh Basant were discussed for the top post at IIMA.
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