From This Year, IIM-C Fees Will Be Rs 9 Lakh

.
.
.
KOLKATA: Indian Institute of Management, Calcutta (IIM-C) decided on Friday to hike its fee to Rs 9 lakh for the 2009-11 batch.


This is more than double the fees paid by the batch passing out this year.

Under the revised fee structure, students will have to pay Rs 4 lakh in the first year and Rs 5 lakh in the second year. Current students, who will be promoted to second year in 2009, will need to pay Rs 4 lakh.

In spite of the hike, IIM-C fees are still lower than those of IIM-Ahmedabad (Rs 11 lakh) and IIM-Bangalore (Rs 9.5 lakh).

“In two years, the institute has to spend Rs 8 lakh per student. Now, with the fee raised to Rs 9 lakh, we hope to cover the cost,” said IIM-C chief administrative officer Dinesh Verma.

“The reason behind this fee hike is an increase in expenditure and skyrocketing prices,” said IIM-C director Shekhar Chaudhuri.

“Since our fee was lower than IIM-A and IIM-B, questions were being raised about whether we offer any less facility than the other IIMs. That is not true. Last year, IIM-A and IIM-B went ahead and increased their fees without even consulting us. We had already announced that we were also going to increase fees this time,” said a faculty member of IIM-C.

The fee hike coincides with a rise in the number of seats for the 2009-11 session, from 304 to 407, to accommodate the quota structure. The institute’s board of governors has requested the ministry of human resources development for additional faculty posts.

“We have 88 sanctioned faculty seats but we have to increase it to 120 to ensure that the teacher-student ratio is maintained at 1:10,” Verma said.

The fee for international students has not changed. “Foreign students will continue to pay US $20,000 a year or US $40,000 for the two-year course,” said Verma.
.
.
.