Click to play videoAhmedabad: Was the Indian Institute of Management-Ahmedabad (IIM-A) grossly over-estimating costs when it more than doubled the fees for its flagship post-graduate programme last month?
An independent report, prepared and submitted to IIM-A in November 2007, said that the cost margin per student per year is Rs 2.12 lakh. But the IIM-A, which has increased the fees far more than that deficit, justifies the move.
“The hike may seem exceedingly high if we look at percentages, but let’s not look at it that way. Is it realistic, logical, right and fair? In my opinion, it meets all those criteria,” Chairman of the IIM-A Board of Governors Vijaypat Singhania said.
Now, after the government-appointed RC Bhargava committee demanded a freeze on the hike, many members as well as government nominees on the IIM Board are expected to call for a review of the decision at Saturday's Board meeting. Even faculty members support such a move.
“A hike in fees is not the only solution. The challenge is to ensure that society is more inclusive. I think society has a much greater expectation from the IIMs,” Professor at IIM-A, Anil Gupta said.
Insiders say that the more-than-double fee hike almost suggests an arrogance rising out of the fact that IIM-A is arguably Asia's best B-School and so it can decide what fees to charge.
Meanwhile, the Bhargava committee will visit the campus on Friday. A clearer picture on the fees could emerge after the Board meeting the next day.
(With inputs from Gaurav Shah)
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