The Indian Institute of Management Calcutta (IIM-C) decided to hike its fees by 50 per cent to Rs. 13.5 lakh from the current session.
After a board meeting, IIM-C board of Governors chairman Ajit Balakrishnan said the fees for their two-year course has been raised to Rs. 13.5 lakh from the 2010-12 session.
The increased fees will now match those of IIMs in Ahmedabad and Bangalore.
Citing the reason for fee hike, Balakrishnan said it would meet the increasing expenditure for infrastructure, greater faculty allocation and spending for research-related activities.
He said the institute also intends to extend fee waiver to more needy students. At present, it offers fee waiver to around 10 per cent of students who fail to arrange funds.
The fee hike will also prevent IIM-C from under recovery and meet its current expenditure.
This year the number of students will be 462 as against 410 in the last year.
