The institute claims it is not a fee hike and will restore the 2013 fee structure, when IIM-L had cut down its fees by 10%.
Ajit Prasad, the new director of Indian Institute of Management-Lucknow has announced that they are going to increase the fees by 10% from academic session 2017. Prasad, stated that it is not a fee hike and that the institute will restore the 2013 fee structure, when IIM-L had cut down its fees by 10%. He stated at his first press conference since taking charge, "There is no fee hike, we are bringing the old fee structure back.”
The NDA government had called for major cut in fees for IIMs in 2004. The government withdrew its decision allowing the institutes to continue charging the earlier fees and stated that they would ensure no student faced any difficulty for want of financial resources. Only IIM Lucknow cut its fee by 10% nine years later. Prasad assured no student will be turned away for lack of funds. He explained that if the banks are unsupportive, the institute will raise funds for economically weaker students.