The Indian Institute of Management, Ahmedabad (IIM - A), the country's premier business school, on Wednesday announced a fee hike of Rs. 1 lakh for its two - year Post Graduate Programme effective from the 2016 - 18 batch.
An official communique by the institute said: "IIM - A Board has approved the increase to Rs. 19. 50 lakh from Rs. 18. 50 lakh. The enhanced fee is applicable from the 2016 - 18 batch. "
The amount is a cumulative fee for both years, including tuition, academic support like case materials and books, accommodation, basic health care, medical insurance, and alumni association membership.
Justifying the hike, the communique said: "IIM - A fee increases have tended to lag inflation rate over the past several years. Taking 2009 as base, even with the proposed increase, 2016 - 18 fee would be 10 percent lower than inflation adjusted terms compared to 2009 - 11 fee.
"The institute costs have been rising in step with inflation. Although we continue to drive for efficiency, part of the cost increase is reflected in fee increase. "
The statement quoted Ashish Nanda, Director of IIM - A, as saying: "We are committed to continue offering deserving students the most generous scholarship scheme among management schools in India. "