The Board of Governors of the Indian Institute of Management-Ahmedabad (IIM-A) approved on Wednesday about 5.4 per cent hike in the fees for its two-year post-graduate programmes (PGPs) from ₹18.50 lakh to ₹19.50 lakh.

The cumulative fees for the two years includes tuition, academic support (case materials, books etc), accommodation, basic healthcare, medical insurance, and alumni association membership fee for both PGP and PGP-FABM.

In a statement issued here, the institute said the fees at IIM-A have tended to lag inflation rate over the past several years. However, last year, the premier B-school had revised the fees upwards by 11.44 per cent for the 2015-17 PGP batch, making it the steepest hike in the past five years.

Apart from PGP, the course fee for the one-year executive post-graduate programme was also raised from ₹21.5 lakh to ₹24 lakh for the 2015-16 batch.

“Although we continue to drive for efficiency, part of the cost increase is reflected in fee increase,” the statement said.

“We are committed to continue offering deserving students the most generous scholarship scheme among management schools in India. For 2016-17, financial aid is being offered to 251 PGP and PGP-FABM students, which is 29 per cent of the total student strength,” said Ashish Nanda, Director of IIM-Ahmedabad.

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