Ahmedabad: Ending a long wait, the Indian Institute of Management - Ahmedabad today (June 19, 2004) announced that its fee structure would remain the same as previous years, Rs 1.58 lakhs, while the allocation for Need-Based Scholarships (NBS) would be hiked four times, from Rs 25 lakhs to Rs 1 crore, Chairman and Infosys chief N R Narayanamurthy said today.

Emerging from the crucial meeting of board of directors of IIM-A, he told reporters the fee structure would remain the same and that the allocation for NBS was hiked from Rs 25 lakhs to Rs 1 crore for students whose parents' income does not exceed more than Rs two lakhs.

"The board unanimously agreed with the hike in the allocation of NBS to facilitate more number of students and this would be done after the financial advisory committee does a thorough assessment of the applicant including verifying the proof of income," the IIM-A chairman said.

The IIM-A also specified that it would not take Government grants for the current financial year as there was no shortage of funds.

Moreover, a one-year executive MBA programme and courses for a Centre in Management in health services that would have courses in Hospital Management and Social Development would be introduced shortly, the chairman said.