Financial Daily from THE HINDU group of publications
Tuesday, Mar 16, 2004
Financial Daily from THE HINDU group of publications Tuesday, Mar 16, 2004 |
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Industry & Economy
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Education NITIE slashes fees to Rs 30,000 Tunia Cherian George
Mumbai , March 15 THE city-based NITIE (National Institute of Industrial Engineering), which is administered by the Ministry of Human Resources Development and is fully funded by the Government, has brought down its fee in line with the recent Government decision, aimed ostensibly at making management courses affordable to more students. According to the Director, Professor Tapan P. Bagchi, the fees for the two-year PG Diploma in Industrial Management stands reduced at Rs 30,000 from Rs 1 lakh earlier. Talking about the rather prompt decision to go ahead with the fee cut, Prof Bagchi said, "students will now be in no doubt about the new fee structure". Further, the decision to lower the fees became easy once the Government assured the institute it would make good the funds' shortfall. This would be about Rs 70,000 per head for a class of 120. Beginning this year, the institute plans to increase its intake by 30. The early decision on lowering the fees, taken before financial closure of the year (March 31), would also allow the Government to enhance its allocation to the institute when drawing up the Budget for the new year, he said. According to Prof Bagchi, the cost of educating each student was about Rs 3 lakh per annum. So, as it stood, the Government was subsidising each student to the extent of Rs 2 lakh. Thus, the additional Rs 70,000 burden per student would not seem very big. He added that the Rs 3 lakh spent on educating each student only took into account "running expenses" which included faculty salaries, library and lab expenses, maintenance and electricity costs, etc. Any enhancement of the infrastructure and purchase of assets such as computers were covered under the "capital funds" allocated to the institute. This was exclusive of the running funds, he said.
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