However, the nominal hike at the premiere management institute is not because of inflation
Following its governing council meet on Saturday morning, the IIMA's board of governors has decided to increase the number of students in its PGPX section by 20%. Also, fees for its PGP and PGPX programmes have been raised by nearly 5.5%.
"Currently the fee for PGP students is Rs13.7 lakh and we are adding 5.5% to this figure, so the new fee would be Rs14.45 lakh. In addition, there is also 5% hike in PGPX fees, which means fees for PGPX students will increase by Rs1 lakh. Beyond this, we have also increased the number of student seats for PGPX from current 85 to 100, which a rise by almost 20%", director of IIMA, Samir Barua said.
Explaining that the fee hike was not in response to the inflation rate, chairperson of IIMA's board of governors, Dr Vijaypat Singhania said that, "We have not increased our fees corresponding to India's current inflation rate which is 10%. Instead, to moderate the impact on students and their families who are ultimately paying the fees, we have announced a nominal hike."
Mentioning the number of members in the new governing council, Dr Singhania informed that, "Members in the governing council will be dropped from current 25 to 15, of which four will be members of government which is two each from the state and central governments. The remaining 11 have yet to be decided, and the proposal for the same will now be sent after the convocation."
Talking about subsidy management, Barua stated that while theirs was a percentage increase in the same, in terms of amount it was quite nominal and was based on the income distribution.
In addition, they also mentioned that, while 2011-12 will witness full impact of the OBC quota on PGP admissions, by next year, 2012-13, similar impact will also be witnessed on PGPX admissions. Both Barua and Dr Singhania were also apprehensive about the service tax issue and are hoping that the government discards it completely with respect to IIMA.
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