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Govt to roll back IIM fee cut order
Joydeep Ray in Ahmedabad |
June 24, 2004 10:35 IST
With five of the six Indian Institutes of Management resolving to retain their old fee structure, the ministry of human resources development is all set to roll back the fee cut order issued by the earlier government.
The new order is expected to be issued on Friday when the deadline set by the ministry to all six IIMs to decide their fees would be over and by then the deferred board meeting of IIM-Kozikode also will be through with the similar decision of retaining old fees like five other IIMs.
"At the board meeting, we decided to retain the old fee as charged in the last academic session for the Post-Graduate Programme students and this time also the incoming students will have to pay Rs 1,30,000 fees per annum."
"But to provide further help to poor and needy students, IIM-L has decided to come up with more new scholarship schemes which may even offer 100 per cent waiver on tuition fees to such students if their family income is less than Rs 200,000 per annum," Devi Singh, Director of IIM-Lucknow told Business Standard on Wednesday.
Meanwhile, it has been learnt through sources in the ministry in New Delhi that a complete rollback on the earlier government's fee cut order may come on Friday.
"The ministry in its earlier meetings held with the directors of IIMs had given complete autonomy to the institutes to decide their own fees and now as the IIMs have decided to revert to their last year's fee structure. The MHRD will roll back the earlier order. The ministry is also happy with the IIMs enhancing their Need Based Scholarship schemes," said a source.
Earlier in their board meetings, IIM-A and IIM-B, IIM-C also announced that the funds for NBS scheme for needy students are being hiked from this year itself to provide academic facilities in the B-schools.
IIM-A has decided to enhance its NBS fund to Rs 1 crore (Rs 10 million) each year from existing Rs 25 lakh (Rs 2.5 million) of allocation while IIM-B has decided to enhance funds for NBS to Rs 75 lakh (Rs 7.5 million) from existing Rs 25 lakh and IIM-C also has taken similar decision.
IIM-L in its board meeting on Wednesday echoed the same sentiment.