IIM-Calcutta hikes fees by 50 percent, intake reducedBy IANS
Saturday, April 3, 2010
KOLKATA - Premier management institute Indian Institute of Management-Calcutta (IIM-C) Saturday decided to hike fees for its flagship post-graduate course, but reduced its intake of students citing lack of infrastructure.
The IIM-C board of governors at a meeting decided to raise the fees for the two-year post-graduate diploma in management programme from Rs.9 lakh to Rs.13.5 lakh from the current session (2010-12).
The hike was necessary to cope with the increased expenditure in infrastructure, greater faculty allocation and spending in research related activities, board chairman Ajit Balakrishnan told reporters.
The hiked fee would be at par with that of IIM Ahmedabad and IIM Bangalore.
Balakrishnan said the additional funds will also be utilised to give fee waiver to more students.
The institute offers fee waiver to around 10 percent of students who fail to arrange the funds for the course.
The board also decided to reduce the student strength for the programme to 375, though the institute had initially planned to accommodate 462 students.
Dinesh Verma, the institutes chief administrative officer, said the number of students have to be reduced this year due to lack of infrastructure.
“With the addition of the under construction new campus, this problem will surely be solved,” he assured.
Three years back, the institute used to take 300 students for the course, but it decided to increase the intake in a phased manner to 462 to accommodate the 20 percent other backward classes (OBC) quota.