Council of Indian Institute of Technology (IIT) has decided to hike the IIT fees by 400 percent. It will come into action from 2013 and it is for students who are not from economically and socially backward classes. But students will have to pay the extra fees once they get employed. At present, for Bachelors of Technology (B.Tech) course, students pay Rs. 50,000 annually and IIT Council has presented an agreement to increase the fees to Rs2 lakh per annum from 2013.