Nearly 65% students have benefitted from graded fee structure,claims Barua
The Indian Institute of Management-Ahmedabad (IIM-A) is considering a fee revision for its flagship programme,Postgraduate Programme in Management (PGP),from the next academic session. Vijaypat Singhania,Chairman,Board of Governors,IIM-A,said this on Saturday. He was delivering the welcome address at the 44th Annual Convocation of IIM-A,which saw a total of 406 graduating students receive their diplomas/titles.
Giving the rationale of the prevailing economic slowdown and additional fund requirements due to the Sixth Pay Commissions recommendations as well as for the growth and diversification of IIM-ASinghania said,IIM-As board strongly guards its autonomy and financial independence. Thats why it has declared not to accept ill-advised recommendations of the Bhargava Committee.
Quoting a recent study in the US highlighting the fact that the global meltdown is the result of decisions taken by MBAs from the finest B-schools in the world,he added,I am glad that none of the major goofers came from IIMA and hope that it remains the same.
Meanwhile,Samir Barua,Director,IIM-A,said this year witnessed the implementation of the first phase of expansion related to the OBC quota in the PGP. After its full implementation by 2010-11,the intake would rise to about 400, he added.
Barua also threw light on the achievements of the institute in the last one year and said,IIM-A has become the first B-school in the country to have been accorded European Quality Improvement System accreditation: one of the 116 management schools in the world to have this stamp of quality.
Commenting on the proposed fee hike,Barua said: IIM-A has a graded fee structure and will continue to have so. About 65 per cent of the batch this year has benefited in varying degrees from it. In the process,IIM-A has also become perhaps the first B-school in the world that educated 21 students absolutely free in 2008-09.
Giving details of the convocation,IIM-A officials added that in all,12 students received the title of Fellow of IIM-A; 257 students received the Postgraduate Programme diplomas; 21 students were conferred with Postgraduate diploma in Agri-business Management; 77 students graduated with one-year Postgraduate Programme in Management for Executive; and 39 students received the Postgraduate Programme in Public Management and Policy.
Stay away from greed
Deepak Parekh,Chairman,Housing Development Finance Corporation Limited,who was the chief guest at the convocation,cautioned the fresh graduates against too much greed. He said greed is good was the most celebrated mantra for the free market economy,the consequences of which are for everyone to see. He also advised them to keep their ethical and moral fortitude intact in a society where the most common excuse for unethical behaviour is,everyone is doing it. He said,in a world of cut-throat business,it is important to ave a right balance in life.