A proposal for a three-fold hike in IIT annual fees from the present Rs 90,000 was approved by an IIT panel, though a final decision would require the approval of the Union HRD Ministry.
In a meeting, a body comprising of IIT directors and senior officials adopted an earlier report which had suggested hiking fees to Rs 3 lakh and also recommended multiple sources of financing for the IITs.
As per the sources, even the fees of foreign students would be raised from the current annual USD 4000 to USD 10,000.
The Standing Committee of IIT Council also decided that the proposed new entrance examination designed to test the aptitude conducted by a National Authority of Test (NAT) would be held from 2017 onwards. The final decision in this regard will be taken by the HRD ministry only.