New Delhi: Indian Institute of Management (IIM)-Lucknow today (June 23, 2004) announced that its fee structure would remain unchanged at Rs 1.30 lakh this year.

This was announced by IIM-L Chairman Hari Shankar Singhania after a Board meeting held here today to take a decision on the drastic fee cut announced by former HRD Minister Murli Manohar Joshi from Rs 1.5 lakh to Rs 30,000.

"We have decided that the fee structure will remain the same as last year, i.e. Rs 1.3 lakh per annum," Singhania said after the meeting, which was attended among others by Additional Secretary in the HRD Ministry, Sudip Banerjee.

He said that IIM-L had always remained in the forefront in fulfilling its social obligations and "no one will be denied higher education because of lack of finance".

Singhania said the students whose family income is below Rs 2 lakh would be given 100 per cent waiver on tuition fees.

IIM-L is the fifth such institution to retain the same old fees rejecting Joshi's controversial fee reduction in the prestigious B-schools. IIMs Ahmedabad, Kolkata, Bangalore and Indore had already announced their decision to charge the same old fees.