The Indian Institute of Management Calcutta (IIMC) has hiked the course fee for its flagship two-year PGP programme by 5 per cent to Rs 21 lakh for the academic session 2018-2020. According to Shrikrishna Kulkarni, Chairman, Board of Governors, IIMC, the fee hike is mainly an adjustment to inflation.

The institute, which used to review its fee structure once in three years, is now looking to conduct annual reviews. The last time it hiked fees was in 2016. “The fee structure (of IIMs) has to be reviewed just like any other product price, but in its entirety. Long back we used to review it once in five years, then it came down to three years, now we need to evaluate it at a faster pace,” Kulkarni told newspersons after the 53rd annual convocation here on Saturday.

Wait and Watch

Despite the IIM Act 2017 allowing IIMs to confer management degrees instead of postgraduate diplomas, IIMC has decided to take a ‘wait and watch’ approach. The institute has awarded diplomas to its outgoing batch of graduates (2016-18). According to Kulkarni, the institute’s faculty body after due deliberation observed that there are some ‘technical and legal’ hurdles in shifting immediately to a degree from diploma.

IIM Bangalore and two other B-schools have awarded degrees to its graduates starting this year. However, the remaining 17, including IIMC, has put the decision on hold for now. “The process of moving from diploma to degree has to be seamless. We will strive to start giving degrees from next year. But it will all depend on how soon we (all the 17 IIMs) arrive at a consensus,” he said.

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