IIM Lucknow drops fees by 10% from Rs 12 lakh to Rs 10.8 lakh

BANGALORE: Premier management institute IIM Lucknow (IIM-L) has decided to reduce fees to Rs 10.8 lakh from Rs 12 lakh for the batch of 2013-2015, even as the older, more established IIM Ahmedabad and IIM Bangalore have increased fees for the period.

“In today’s environment when education is becoming costlier, IIM Lucknow would like to take a lead. This decision of ours would not only help many needy students to undertake education at institutions like ours, but it will also widen the area of selection amongst eligible students for undertaking education in IIM’s”, said JJ Irani, chairman, IIM Lucknow board of governors, in a press statement.

The new fees will be applicable to both the post-graduate MBA and post graduate programme in agri-business management. The duration of both the courses is two years.

The B school has not effected an increase in the past two years. IIM- B increased its fees last week by 13.33% to Rs 17 lakh from Rs 15 lakh. IIM-Ahmedabad, will charge its 2015 batch Rs 16.6 lakh.

“In the past nine years, the institute’s impetus has been on efficient financial management and broad-basing our revenue sources. We have no reliance on government grants now. Everyone can be assured that this decision of our does not mean reduction in either the quality of education, infrastructure or any other services in the institute," said Devi Singh, director, IIM Lucknow in a statement.