Today in the afternoon, IIM Ahmedabad has announced a steep hike of 300 % in its fees from this academic session.
Now students will have to pay Rs 11.5 lakh for a two-year course, compared to the earlier fee of Rs 4.5 lakh though the institute has widened the option of getting scholarships for the students. Earlier the deadline of getting a scholarship for a student was 200K INR of family income, which has now been increased to 600K INR. The Central Govt. & the Gujrat Govt have vehemently opposed to this activity by the best B-School of the country. They stated it as a sense of irresponsibility of the authority of the IIM’s and also a sense of negligence and disrespect towards the common people who are not able to stand this tremendous hike. Even some days back when IIM Bangalore decided a fee hike of 75%, the Govt. had then also opposed this step.
According to some internal sources though, the IIM authority says since they are providing the best campus recruitment drives year after year that too with salaries as huge as 1crore p.a., which is quite easily comparable with any foreign top graded B-School, a fees like this is qute commendable. Moreover Bank loans are always available.
Now the question arising is that is this then a Business policy by the banks or a greater opening for the NRI students and students from well to do backgrounds? Is it a kind of reservation?
