Do you think the hike in fees by IIM's Justified?

The IIMs have increased the fees for their two year post graduate management programmes. Leading the pack is IIM, Ahmedabad with a stupendous 175%. The increase at other IIMs is moderate though. The hike is also viewed as the show of the monopolistic powers that the IIMs enjoy. The IIMs have defended the hike under the pretext of rising cost inflation & recommendation of the Sixth Pay Commission. Given the fact that the IIMs also earn revenues from consultancies & executive training programmes, is the hike in the first place required, and if yes, is the quantum justified. Finance will now be a major issue for the students. Post the hike era, will the IIMs continue to enjoy the respect and support from the students it so far had; will they be able to tap & churn out the same quality of students? These and many more such issues await a response….