IIM-Calcutta to hike fee by 20% for its two-year diploma course

Thinking to get enrolled in Indian Institute of Management Calcutta, think again before you make your final move as this prestigious institute has decided to increase its tuition fee for its two-year diploma programme. Presently, the programme fee is Rs. 13.5 lakh and after the implementation of hiked fee the tuition fee will reach somewhere around Rs. 16.2 lakh, which is a jump of 20%.

Foreign nationals who will enrol in the PGPDM courses by getting a valid score of GMAT will now have to pay $ 50,000 up from $ 40,000. Chairman of IIM-C board of governors Ajit Balakrishnan, said, “We have decided to increase the fee after a gap of four years. We intend to bring the fee at par with IIM-A and IIM-B. We waited four years since we did not want the course fee to be hiked steeply at one go. Instead, we decided to occasionally calibrate the fee.”

Presently, IIM Ahemdabad charges Rs. 16.6 lakh and IIM Bangalore charges Rs. 17 lakh for their two year post graduate diploma courses. Balakrishnan said, “IIM-C has increased the fee by 20% this year. The institute runs on profit. We have 15% surplus than other IIMs. The entire money is spent on providing better infrastructure and in development of students.”

Sibal Chattopadhyay, Director of the institute, said, “Over the past few years we have substantially increased scholarships to students. We have allotted around Rs 5 crore every year towards scholarships and fee waiver to candidates from humble background. The additional fee will be utilized to increase the scholarships further and give a boost to the infrastructure development being carried out on the campus.”

Presently, a student at IIM-C gets 100% fee waiver if his/her family income is less than Rs. 2 lakh per annum. The candidates whose family income is between Rs. 2 lakh per annum to Rs. 4 lakh per annum will get a fee waiver of 75%. Ashok Banerjee, a faculty member said, “The quantum of scholarship decreases proportionately with the increase in family income with the minimum being a 25% waiver.”