Pursuing MBA at IIMs to cost DEAR

Aspiring candidates who are set to pursue MBA (Master of Business Administration) in the leading IIMs of the country from 2018 have to pay more as compared with the fees of yesteryear.

According to the new decision taken by the central body, there will be a hike of 5-17 percent in the tuition fees which will range between 80,000-2 lakhs rupees extra.

IIM Ahmedabad being the costliest has hiked the fees from 21 lakhs to 22 lakhs and following this suit 9 other IIMs has initiated a change in their fee structure. IIM Bangalore, the second most premier institution for the coveted MBA degree has raised it from 19.5 lakhs to 21 lakhs and IIM Calcutta is going to charge 21 lakhs for the course. The newer institutions like IIM of Indore, Rohtak, Ranchi, Trichy, Udaipur, and Amritsar has raised their fees as well.

IIM provides best business education in the country to create new business heads for the future and has been recognized internationally for its excellence and the cost of maintaining such a premier institution are bound to go up. According to Govt. agreements, the IIMs should generate their own revenue after initial 10 years of aid and sustain itself. With time as the salary for faculties, maintaining old infrastructure and creating new ones makes it necessary to go for a hike.