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Moneycontrol.com reports

Corporates have been voicing their protest against the government's decision to slash the Indian Institutes of Management, IIM, fees. The protest is now taking an organised form. CNBC-TV18 reports that the Federation of Indian Chambers of Commerce and Industry, FICCI, is making a strong case against the fee cut.
Secretary-general Amit Mitra is not supportive of the government slashing IIM fees to Rs 30,000. He is backed by a strong lobby of corporates who are gearing up with research documents to be presented to the Human Resources Development Ministry in a weeks' time which details why IIM fees should be increased and not slashed.

FICCI has suggested that the government should concentrate on providing cheaper and easier loans to students. The chamber feels that the HRD ministry may reconsider its ruling.

Corporates hiring students from these IIMs feel that the quality may go down, once the fees are slashed.