The students aspiring to get into one of the most coveted B-schools – Indian Institute of Management – Calcutta, may have to dole out more money from next session onwards. The IIM-Calcutta has finally decided to get in-line with other major IIMs in terms of tuition fee. It has been keeping tuition fee lowest among its peers.
The fee-hike proposal is likely to be discussed at the next board meeting scheduled to be held in the month of December. If the proposal gets approved by the board of governors, the IIM-C will increase its tuition fee up to 15 Lakh from the next academic session.
Nevertheless, the IIM-C will still remain economical if compared with its other counterparts. While IIM-Ahmedabad offers the two-year Management program at Rs 18 lakh and that IIM-Bangalore offers at just a lakh less, the same course will be offered at IIM-C for Rs 14.5-15 lakh even after the fee hike. Currently, the IIM-C charges Rs 13.5 lakh for the course, which was increased from Rs 9 lakh four years back.
When it comes to tuition fees, IIM-C has always tried to maintain a student-friendly image, now its starts facing difficulty to generate funds. Though the HRD ministry is the guardian body of the institute, it doesn’t get any financial assistance from it, and hence, yields funds from corporate projects that its faculty members bring in. To augment funds for the institution, the faculty has also started teaching on the satellite mode.
Before sending to the board for approval, the proposal for fee-hike would first come up for debate at the faculty council.