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March 28, 2009

IIM-A board meeting to be held today



Ahmedabad: The Indian Institute of Management-Ahmedabad (IIM-A) board members are scheduled to meet today at its campus. The board is likely to increase the fee from this year.

"The board meeting is scheduled to be held today. It is very likely that the board may hike the fee this year as well," said an official from IIM-A.

Despite a fee hike by 200 per cent, IIM-A is now running short of money at a deficit of Rs.7-8 crore, against a corpus of Rs.170 crore in 2001. The institute had asked for a fund of Rs.54 crore from the government of which only a meager amount Rs.2 crore has been sanctioned so far. Last year, IIM-A hiked fee for its flagship post graduate programme (PGP) course by 200 per cent from Rs.5.5 lakh to Rs. 11 lakh.

Owing to a graded fee structure,aronnd 80 per cent students had benefited through fee waivers, while the institute paid 30 per cent from its own purse.

Several fee waivers led to students paying on average fee of Rs 3.98 lakh per annum. Moreover, IIM-A will also bear an additional burden of Rs 7-8 crore since it has to pay retirement benefits and arrears from 2006. source: http://indiaedunews.net

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