The Indian Institutes of technology are set to hike the fees for their MTech programmes by up to 10 times to a total of Rs 2 lakh per year in a staggered manner over a period of three years, reports Livemint.
The development comes after the meeting of the IIT Council on Friday (27 September). IIT Council is the apex body which governs the affairs and policies of all the IITs in the country. It has decided to start hiking the fees for the MTech programmes starting from the 2020 academic session.
As of the present fee structure, the IITs charge between Rs 20,000-50,000 as annual tuition fee, while the net cost of education per year is estimated to be about Rs 7 lakh per annum per student.
The Council has also decided to discontinue the monthly stipend of Rs 12,400 given to individuals enrolled in MTech programmes by qualifying GATE examination. Further, to improve the teaching standards at the IITs, the institutes will also be hiring faculties from abroad.
It has also been decided by the Council to conduct faculty evaluation, under which good performers would be made permanent, while the IITs will have the option to let go of the non-performers.
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