Panel unlikely to suggest changes in IIM fee hikeAugust 11th, 2008 - 8:29 pm ICT by IANS
New Delhi, Aug 11 (IANS) Despite demands from various quarters to lower the fees in the Indian Institutes of Management (IIMs), the review committee appointed by the government to look into the issue is unlikely to suggest any change, an official said Monday. The committee, led by chief executive officer of Maruti Udyog R.C. Bhargava, visited IIMs and discussed the fee structure with the institutions. It is of the view that the fees should be finalised by the concerned IIM boards.
“The panel is unlikely to suggest changes in the fees that were hiked by the IIMs,” an official of the Human Resource Development Ministry said.
In April, the IIMs announced a fee hike from this academic year. IIM-Ahmedabad announced a fee hike of 175 percent for its first year post-graduate programme - from Rs.200,000 to Rs.550,000. Soon, other IIMs too increased their fees.
The panel is of the view that the IIM board should have the prerogative to decide its fee structure. It is also expected to recommend a few changes keeping in view the demand of the industry.
The committee is likely to submit its report next month.
At present the panel is also studying how the IIMs operate. It is expected to make recommendations on how the IIMs could attract foreign investment. The panel is also looking at B-schools in the US, which get funds from large corporate houses, as a study model.
At present, IIMs are largely funded by the government.