The Indian Institute of Management in Ahmedabad is worried about its financial health as it's running short of funds.

The institute's corpus is down to just Rs 50 crore from the Rs 130 crore five years ago.

The recent fee hike will help but a long-term strategy is needed to ensure that there's enough money to fund expansion plans.

''While we are battling with the difficulties of finding new faculty members, we are anxious of the corpus, dented badly. We have no other option but to seek financial help from the corporates and lets see how much they help us,'' said Dr Samir Barua, Director, IIM-A.

The need to look for outside help has also come from the desire of being free of government control.

For the last three years, the institute has stopped taking government grants worth Rs 30 crore. But not everyone on the board is happy with the new strategy.

''Why seek help from corporates, will it come without any terms and conditions. I doubt we have enough money from CAT and placement. We should rather hike placement fees or expand our revenue generating courses like MDP or EDP,'' said Dr Bakul Dholakia, former director, IIM-A.

While the board members believe there is no harm in accepting donations from the rich to cater to the needs of the poor, some faculty members believe corporate donations will come with rider - a compromise the prestigious institute should avoid.

Published & Courtesy : ahmedabadline.com

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