The Indian Institutes of Management have long been known as
the pinnacle of higher education in the country. Apart from providing top
quality education to the Indian youth, these institutes also attract talent
from other countries. Therefore, despite their high fee, they are considered as
a good investment. But that can change now.
Of the total 19 Indian Institutes of Management operating in
the country as many as 7 raised their educational cost expenses in the most
recent two years with IIM-Lucknow raising it by about 30%, the central government said on Monday.
HRD minister Smriti Irani shared information in the lower house of the parliament. As indicated by the information furnished by her,
IIM-Ahmedabad and IIM-Shillong gave a hike of 5% and IIM Lucknow by 29.6%.
IIM-Calcutta climbed its charges by 17.3%, IIM-Kozhikhode
23.1, IIM-Ranchi 19 and IIM-Trichy 20.
The HRD Minister Irani was quoted as saying, "The
charges in IIMs is not connected to the expenses in different establishments in
the nation. IIMs are self-ruling foundations and are administered by their
individual update of affiliations and guidelines of the general public which
incorporate the settling of expenses and different charges according to
procurements contained in that,".
"The climb in tuition expense has not unfavorably
influenced poor-and lower-class students since establishments broaden
monetary help, including up to full educational cost charge waiver and support
remittance, to students from economically weaker sections," she further added.