Tuesday, March 10, 2009

What happened to the Indian numbering system?

Tuesday, March 10, 2009
ET had a post reporting that IIM Lucknow would be hiking their fees for their 2 years program. It wasn't very surprising given bigger brothers Calcutta and Ahmedabad hiked theirs in recent times.
What was surprising though, was this:
At present, IIM-L charges Rs.500,000 for the two-year programme and that is comparatively lower than the other IIMs in Kolkata, Bangalore and Ahmedabad.

While the fee at IIM-Calcullta and Bangalore is Rs.900,000, IIM Ahmedabad charges Rs.1.1 million for the two-year programme. 

Rs 1.1 Million? Since when did we start following the American number system. The news item has been compiled by IANS which claims to report about Indian matters in an unbiased manner, but clearly there seems to be something wrong with this form of presentation.

It doesn't make Indian education look economically cheaper than their American counterparts. Now "IIM Ahmedabad charges USD 22,000 for the two-year programme." on the other hand drives the point (though I can already see you economists raise an eyebrow since the conversion made no use of the PPP) but despite that it comes out to be much cheaper when you look at it from a ROI point of view. 


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