An IIT panel, headed by Devang Khakar, had last week approved a proposal for a three-fold hike in annual fees of the institute i.e. from Rs 90,000 to Rs 3 lakh. But the HRD ministry has felt that a three-fold hike will be too burdensome on the parents and reduced it to Rs 2 lakh per annum. The committee had also emphasised that every student should be provided educational loans at an interest-free basis and without collateral under the Vidyalakshmi scheme.
The HRD ministry has also stated that there will be total waiver of fee for SCs and STs as well as physically challenged persons. There will be partial relief for students whose family income is less than Rs 5 lakh- they need to pay just Rs 66,000/.