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While claiming that IIM Calcutta (IIM-C) would still have the least fees for an MBA course after the rise among all the premiere central government sponsored business schools, if the sources are to be believed, IIM-C would start charging Rs. 15 lakhs for the two year program.
IIM-Ahmedabad charges Rs 18 lakhs for a two-year MBA program, IIM-Bangalore Rs 17 lakhs, the same course will cost Rs 14.5-15 lakh at IIM-C even after the fee hike. It charges Rs 13.5 lakh for the course now, which was increased from Rs 9 lakh four years back.
The premier B-Schools come under the Ministry of HRD but have to finance themselves from corporate projects that faculty members bring to the institute, the sources said. A fees hike is impending since there has been none since last 4 years, said Anindya Sen, dean – academics of IIM-C, while justifying the hike. Four years ago, IIM-C had announced a steep jump – from Rs 9 lakh to Rs 13.5 lakh – in tuition fee.
The fee-hike proposal is likely to be discussed at the next scheduled board meeting in December. It will be first moved by the admissions chair and then it will come up for debate at the faculty council before being sent to the board for its approval. Institute insiders say that if the proposal doesn’t get placed in the December board meeting, it will surely be placed in the first meeting of the board in January 2014.