The hike will be Rs 75,000 for the first year and Rs 75,000 for the second year. So the students will have to pay now Rs 5.25 lakh in the first year, compared to Rs 4.5 lakh earlier, and Rs 5.75 lakh in the second year, compared to Rs 5 lakh earlier.
While announcing the fee hike today, Mr Pankaj Chandra, IIM-B Director, says, “The institute has decided to increase the fee as it is bearing an additional cost due to multiple factors including the increased salaries of staff following the Sixth Pay Commission. In addition, the institute is also paying increased pension to 200 pensioners.”
Mr Chandra further says, “The institute is also taking up construction of hostels, classrooms and staff quarters to accommodate the increase in reserved seats. And, for infrastructure development, all institutes need money.”
He further adds, “IIM-B is also increasing the number of students on its campus to 350 for 2009-10 from the current 270. “We are adding one more section to accommodate the increase.”
In addition to the flagship MBA programme, IIM-B is also taking in 75 student for its executive postgraduate management programme, public policy programmes and fellow programmes. “Taking all these programmes, at the end of the admission cycles, the total enrolment would be 1,200 students from last year’s 962,” said Mr Chandra.
Mr Chandra highlighted one more aspect of fee hike wherein he said another reason for the increase in fees was that during the past five years, the Union government had not facilitated any grants.
