The Indian Institute of Management, Ahmedabad (IIMA) has increased fees for three of its core academic programmes by around 11.5% percent for the batch commencing April 2015. The hike comes after two years.
Following the academic review, the IIMA flagship programme, Post Graduate Programme in Management (PGP) added three new core courses — ‘Government System & Processes’, ‘Understanding Global Organisational Context’ and ‘Having an Entrepreneurial Mindset’ along with a slew of flexi-courses and specialisations on the cards. This indicates a paradigm shift in the IIM-A which used to focus on preparing its candidates for corporate jobs. The last decade saw a good number of IIM-A graduates chucking plum jobs to launch their own enterprises and some joining the government. Social sector and the government seems to be high on IIMA’s radar with the advent of illustrious alumni like India’s Chief Economic Advisor Arvind Subramanian and RBI Governor Raghuram Rajan.
Other IIMs are likely to follow suit and announce a fee hike as well, affecting lakhs of CAT aspirants and professionals . IIMA Director Ashish Nanda on Monday cited “cost pressures” and the need “to remain financially autonomous” as reasons for the hike.
The hike is from Rs 16.6 lakh to Rs 18.5 lakh. The fees for the Post-Graduate Programme in Management for Executives has been hiked from Rs 21.5 lakh to Rs 24 lakh.
“We have been holding the fee constant for two years which has led to our being pretty competitive in comparison to other institutes. The last fee hike for PGP was done in 2011-13, while for the PGPX it was 3 years back. For the PGP and PGP-ABM programs, the tuition fee increase is 10%, whereas administrative costs (for hostel, facilities, academic support ) have been increased at a higher pace owing to inflation.The cumulative fee increase for all three programs of the order of about 11.5%, equates to about 3.7% annual increase over three years. However, we also have one of the most generous financial aid policies and are making revisions to it, so that no capable student is unable to fund his studies,” he said.
In the last two years, IIMA has disbursed financial aid worth Rs 7.55 crore to 295 students in 2012-13 and Rs 6.94 crore to 242 students in 2013-14. However, Nanda added that IIMA was looking for government support for its Fellow Programme in Management.
New students can look forward to a spate of changes at IIMA ,including seats for foreign nationals under ‘supernumerary system’ and ‘deferred admissions’.