"We have not received any official communication from the government as of now. Once we get it, the fees would be doubled. But for those who cannot afford this fee, we would have scholarships and bank loans in place. I don't think this hike would be effective this year as the academic year starts in June, but maybe next academic year," said Ashok Mishra, Director IIT Bombay.
The fees at IITs are currently Rs 25,000 per annum. IITs spend nearly Rs 2 lakh per student. "Fees amount to just 4-5 per cent of our revenues at present and will go up to around 8 per cent after the hike," clarified Mishra.
IIT Bombay is gearing up its infrastructure
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