All resident Indian students admitted to the programme are given fellowship and contingency allowance up to four years and six months. Students are provided with a fellowship stipend of Rupees 25,000 per month during I and II year and Rs. 30,000 per month subject to completion of comprehensive examination in III year and submission of thesis proposal in IV year. An additional stipend of Rs. 2000 per month will be paid during a term (3 months) in which the student is assigned academic duty (teaching and/or grading) of up to 10 hours per week. Similarly, an additional stipend of Rs. 5000 per month will be paid during a term in which the student independently teaches a full credit (30 hours) course. Those who are exempted from first year course work and are admitted directly in the second year of the programme would be eligible to get stipend only for forty two months.
A complete package of contingency grants is provided to all FPM students. The package has the following components
- A contingency grant of Rs. 10,000 per annum in I and II year, and Rs. 15,000 per annum during III and IV year of the programme. This grant will be available for purchase of books, stationery, computer hardware/software and travel related to thesis work.
- A one-time computer purchase grant of Rs. 50,000, which may be availed before the end of course work.
- A total combined travel grant/conference registration grant amount of Rs. 1,40,000/- (i) to attend one international conference after submitting the thesis proposal, (ii) to attend a maximum of one domestic conference each in III and IV year, and (iii) to attend a Doctoral Consortium with a travel grant of Rs. 10,000/- in III or IV year or to attend the proposed annual inter-IIM Doctoral Consortium/Doctoral consortia organized by IIMA/B/C/IISc/IGIDR. And for those who score a CGPA of 7.00 and above at the end of the two years of course work, the total combined travel grant would be of Rs. 1,60,000/-.
- Reimbursement of annual membership fee (student rates) of one national and one international professional society during III and IV year.
- Reimbursement of travel/boarding/lodging and local conveyance expenses for case-writing and field research during III and IV year, subject to a maximum of Rs. 50,000.
- The institute provides free suitable single room accommodation on availability to the FPM students as well as some addition facilities to the married FPM students whose families are residing on campus, which includes reimbursement of family health insurance premium. The combined health insurance cover of Rs. 100,000 for the candidate, his/her spouse and two children is being offered from the institute. The premium payable for Rs. 100,000 cover is reimbursed.