The IITs have proposed an eight fold hike in students fee from Rs 50,000 to Rs 4 lakh a year. This increase will be sprad over 10 years with an annual increase of Rs 35,000. The hike is intended to make IITs self financing institutions.
The IIT council has entrusted IIT Kanpur with the task og proposing a financial structure to help the IITs gain financial autonomy. IIT Kanpur has come up with this eight fold fee hike. The IIT estimated that the institutes are spending Rs 4 lakh on a student annually. IIt Knapur said that in order to be financially independent, the institute will have to charge this amount from the student. At present the IIts charge Rs 50,000 a year. An annual hike of Rs 35,000 will allow the IITs to charge Rs 4 lakh per student in 10 years.
IITs have unveiled a plan to recruit fresh M Tech students as faculty interns to cope with the teacher shortage. They will have to take only two to three classes a week and will be encouraged to devote the rest of the time to their PhDs. They will get better than those who pursue only PhD and will not have to do any administrative task.
