AHMEDABAD: After a gap of two years, the Indian Institute of Management, Ahmedabad (IIM-A) has increased fees for its postgraduate programme (PGP) and agri-business management programme (ABM) from the current Rs 16.6 lakh to Rs 18.5 lakh.
The fee for the postgraduate programme in management for executives (PGPX) is also being raised from Rs 21.5 lakh to Rs 24 lakh for the batch commencing April 2015.
“Fiscal prudence requires that, to remain financially self-sufficient, the institute needs to raise its fees. IIM-A has not increased its fee for long duration programmes for two years. For the FPM and FDP programmes, we have requested the government’s support so that these programmes do not burden other programmes,” said Ashish Nanda, director of IIM-A.
Nanda said that IIM-A has tried to cover the increasing costs by focusing on efficiency, reducing cross-subsidization of other programmes, support from executive education, increasing income from corpus, and intensifying fundraising.
Under its financial aid programme for students with an economically weak background, IIM-A disbursed financial aid of Rs 7.55 crore to 295 students in 2012-13 and Rs 6.94 crore to 242 students in 2013-14.
In 2011, IIM-A won a decade long battle with the HRD ministry and became financially autonomous in its operations. However, now IIM-A has requested government to fund its doctoral programme, fellow programme in management (FPM), and four-month residential faculty development programme (FDP).
To attract foreign nationals, IIM-A is introducing additional seats over its present capacity to foreign students. The students will be selected on the basis of their GMAT scores against CAT scores of their Indian counterparts.
Under a new deferred admissions initiative, IIM-A plans to hold the seats of a select set of students, who have cleared CAT, to give them an opportunity to work for a couple of years before joining the institute.