Software icon N R Narayana Murthy on Saturday described the government fiat for lowering fees in premier management institutions as 'retrograde' and 'ill-advised'.

"It's not based on data and facts. It's not based on reason and logic," Murthy, who is chief mentor and chairman of Infosys Technologies Limited, told reporters on the sidelines of a function in Bangalore on Saturday evening.

"It costs Rs 300,000 per student per annum at IIM-A and, obviously, Rs 300,000 is not a pittance. If you want good quality education, you have to spend Rs 300,000," he said adding the quality of education at IIMs was bound to suffer because of the decision to slash the annual fee from Rs 150,000 to Rs 30,000.

"If you want good facilities, create good infrastructure, upgrade technology and do good research, it costs money; it is very, very clear," he said.

The government had taken the step without detailed consultation with stakeholders such as the chairmen of the IIMs and its directors. He suggested that Union Minister of Human Resource Development Murli Manohar Joshi may have been 'misled' on the issue of slashing the annual fee of students.

Also Read IIM fees: Joshi has the last laugh IITs, IIMs? Joshi has more worries IIMs rule out legal action over fee issue IIMs: Murthy gives clean chit to govt

According to him, he met Joshi on January 14 and gave him all information. On January 29, he sent him a detailed letter explaining why there should not be reduction in fees and why there should be no subsidy for higher education. "For some reason, these things have been ignored."

But Murthy expressed hope that Joshi would review the decision. "I am sure he will look at it again. My personal view is that he will come to a right conclusion," he said.

Murthy disagreed when a reporter quoted some students as saying that 'Joshi has a hidden agenda'. "I know Joshi very well. I have lot of respect for him. He is a very good man. I don't think he has any hidden agenda. It is just that somebody has advised him wrongly."