Premier management institute Indian Institute of Management-Calcutta (IIM-C) has decided to raise fees for its flagship two-year post-graduate diploma in management programme by 50 per cent from Rs.9 lakh to Rs.13.5 lakh from the current session (2010-12).

The fee hike was finalised at a meeting of the board of governors of the institute, board chairman Ajit Balakrishnan said.

The hike was necessary to cope with the increased expenditure in infrastructure, greater faculty allocation and spending in research related activities, he said.

The hiked fee would be at par with that of IIM Ahmedabad and IIM Bangalore.

Balakrishnan said the additional funds will also be utilised to give fee waiver to more students.

The institute offers fee waiver to around 10 per cent of students who fail to arrange the funds for the course.

IANS