IIM Calcutta has hiked its course fee for its two-year MBA programme to Rs 27 lakh from Rs 25 lakh.
The decision was taken on the day of the institute’s annual convocation, held on Saturday, said an official of the institute.
The B-school had last hiked the course fee for its two-year MBA programme to Rs 25 lakh from Rs 23 lakh in 2022.
Manish Thakur, the outgoing dean (new initiatives and external relations), told The Telegraph: “The fee has been hiked to Rs 27 lakh from Rs 25 lakh for the two-year MBA programme.”
The two-year MBA programme is considered the flagship programme of the institute.
The hiked fee will cover tuition, academic facilities like library access, materials, accommodation, medical facilities, basic health care and related conveniences for two years.
Sources said though the Union ministry of education is the guardian body of the B-school, the latter does not get any financial assistance from the ministry. The institute generates resources from what is charged as fees from the students to sustain.
“We did not escalate the fee hike last year. This year after taking into all aspects, the fee has been hiked by Rs 2 lakh,” said an official of the institute.
The institute did not hike the fee in 2020 and 2021 because of the Covid-induced economic distress faced by some students and their families.
At Saturday’s convocation 468 students of the 59th batch of the two-year flagship MBA programme were awarded their degrees.
Altogether 76 students were awarded for the 1-Year MBAEx Programme.
The convocation was attended by Uday Kotak, founder, Kotak Mahindra Bank, as chief guest.
He delivered the 59th convocation address.
The ceremony began with the introduction of the chief guest and the presentation of the annual report by Saibal Chattopadhyay, the director-in-charge, IIM Calcutta.
The director-in-charge, said in his address, “Students and alumni are our true brand ambassadors. We have been continuously augmenting our teaching, learning and research environment, work and academic infrastructure considering the institute’s vision and mission.”