IIM Calcutta has raised its fee to Rs 9 lakh from the present figure of Rs 5 lakh. The fee hike will apply from the batch of 2009-11. IIMA and IIMB had both effected steep increases last year. IIMC had not followed suit and, in fact, had claimed the high moral ground saying that its then fee structure was adequate to generate a surplus.
So, what's changed now? Maybe revenue from training programmes has declined steeply and this necessitated a fee hike? The least IIMC should have done was to explain why it resiled from its earlier stand. The explanation given, namely, that the revised fee merely helps the Institute recover costs is not adequate because last year the Institute had said that was not the line it would like to take.
IIMC's chairman, Ajit Balakrishnan, was a member of the IIMC review committee which submitted its report last year. The committee, while leaving it to IIM boards to decide the fee, had recommended that a particular formula be used for determining the fee. Has IIMC used that formula? Or does chairman Balakrishan differ with review committee member Balakrishnan?
IIMC has not covered itself with glory on the fee hike issue. Market-minded people would say it has merely ended up being behind the curve in raising its fee.
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9 comments:
Such a fee hike is simply UNACCEPTABLE. India is still a developing country.India's leadership and the leadership of management schools MUST understand that a lot of poor but bright students will not be able to pursue their MBA dreams at least in IIMs.
i can understand loans are available but an increase of couple of crores more in their annual budget will solve this problem.
My college friends from middle class families are also disappointed with this and are looking at options like FMS and JBIMS etc.
I think the fee hike is justified if it helps IIMC to 'recover its costs'. The current fees is very low and not commensurate with the quality of education and post MBA career opportunities.
I don't agree with Indian Pundits view that annual budget should increase; I would rather have better loan programs than subsidies so that the financial burden of my education lies on me and not on government/family.
@Indian Pundit..
Points u make:
1)Poor bright students will not be able to pursue MBA dreams in IIMs.. So increase the budget
2)UR friends are disappointed and will join FMS and JBIMS.
MY replies:
1)If you have a chance to visit any IIM and have a look at their expenses, you would surely understand how the IIM PGPMs are world-class courses at dirt-cheap prices.
2)who doesn't like free education? considering the risk-return ratio, any sane person would take a seat. But the problem is we are getting a bit too used to sops in education. Time to have a regulated budget and do away with the term 'deficit' atleast in education.
i am not talking abt free education. Thats meaningless.But reasonable pricing of courses.
A large number of students specially from rural and semi-urban areas will not even try for IIM with such high fees.
I think the pricing is reasonable, with the kind of infrastructure and facilities being provided it is reasonable.
And it is not a profit making business they are running. It is an institution.
Please think about that.
And why should Government give all the subsidies/grants when the students can afford it. Same is the case with IITs.
I think the government can make a better use of these subsidies/grants, those who actually need it.
And moreover these institutions should be autonomous, and not crippled by these grants/subsidies.
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