The Indian Institute of Management Indore (IIM-I) has raised the course fee for its 2-year Post Graduate Program in Management (PGP) to Rs. 14 lakh, a 7.7% increase over the previous year citing increasing operation costs.
IIM-I has become the second management institute after IIM Ahmedabad to go in for a fee hike this year. IIMA had increased the PGP program fees as well as that of the PGP Food & Agribusiness Management (PGP-FABM) to Rs. 21 lakh from Rs. 19.5 lakh set in 2016.
IIM-I director Rishikesha T Krishnan said the fee increase will become effective from the batch of 2017-19. The fee covers costs associated with tuition, accommodation, placement services, course material, library, etc.
The fee increase, that comes after a gap of about two years, became necessary due to increasing operation cost and and the 7th pay commission scale to be given to the employees.
Meanwhile, the director stated that a proposal for doubling the seats for the five-year Integrated Program in Management (IPM) was under consideration. IPM is aimed at students who have passed out of class XII/Higher Secondary or equivalent, who want to take up a career in business management.
Launched by IIM Indore in 2011, the five-year Integrated Programme in Management (IPM) is the first of its kind in India. The programme has been accredited by the Association of MBAs (AMBA) London (4th and 5th Year).
IIM-I is the only one among the Management Institutes to offer this much sought-after course in the country. Till now, only 120 seats were available for the program.
ALSO READ: IIMA Hikes PGP and PGP-FABM Fees to Rs 21 Lakh
“There has been a long standing demand to increase the seats of this course. We will double seats of the course but only after the right to award degrees is conferred on us,” Krishnan said.
While the Union Cabinet has approved a proposal to grant right to award degrees on IIMs, it has to secure clearance from Parliament. Once the approval comes, seats for the program could be doubled from the academic session 2019-2020, he added.
