After IIM Ahmedabad and IIM Bangalore, the IIM Lucknow has decided to increase the fee of its post graduate programme in management by Rs 1,50,000 per annum from the coming academic session.

"We will increase the fee from Rs 2,50,000 per annum at present to Rs 400,000 per year from 2009-10 academic session. The fee will be Rs 400,000 each year during the two-year programme," IIM Lucknow director Prof Devi Singh told PTI.

Singh said that the hike is need-based and would help the institute strengthen its financial health to meet the expenditure which has gone up significantly in the recent years.

"The hike is cost-based. But while increasing the fee, we will also take care of the poor and meritorious students by giving them financial support," he said,.

The institute has been giving financial aid to about 100 students every year, he said.

"The facility will continue this year also. We will ensure that no poor and meritorious student fails to get education at IIM Lucknow just because he or she is poor," Singh said.

The number of seats at IIM Lucknow in the PGPM programme will be increased to about 350 this year from around 300 as it is implementing the OBC reservation in a phased manner.

The IIM Lucknow decision to hike its fee comes just after IIM Ahmedabad and IIM Bangalore made similar decisions to increase their fees.

The IIM-Bangalore on Thursday increased fees of its two-year post-graduate programmes. For 2009-10, the fee has been hiked from Rs 500,000 to Rs 5,25,000, and for 2010-11, to Rs 5,75,000. The board of governors of IIM-B took the decision on Thursday.

The IIM-A has increased fees for its Post Graduate Programme in Management by Rs 50,000. The batch of 2009-11 of the PGPM at IIM-A will pay about Rs 12.5 lakh (Rs 1.25 million) for the course.