IIM-C to invest Rs 180 cr on infrastructure

The Indian Institute of Management, Calcutta (IIM-C), has earmarked about Rs 180 crore for expanding its infrastructure to accommodate a higher number of students and faculty, a top official has said.

"We are spending some Rs 170-180 crore on building new hostels and academic complexes so that we can accommodate the increasing number of students and offer sufficient faculty strength to maintain the quality of education," IIM-C Chief Administrative Officer Dinesh Verma told PTI.

Owing to lack of infrastructure, the country's premier management institute had admitted only 375 students in the 2009-11 batch.

"The new infrastructure will be ready within this year, so from the next admission year we will be able to accommodate 462 students. The construction work is going on in full swing and we have already spent Rs 60 crore so far," Verma said.

Along with the physical infrastructure, the faculty strength is also being augmented concurrently, he added.

The B-school has also raised fees by 50 per cent to Rs 13.5 lakh from the current batch (2010-12).

After increasing the fees, he says, IIM-C is also contemplating to change the scholarship structure and make it available to a higher number of students.

About 10 per cent of the students get scholarship in the present structure, where a fee waiver of 100 per cent, 60 per cent, 40 per cent or 25 per cent is given depending on the financial of the students.