A panel constituted by the HRD ministry has recommended a regulatory body which will look into the fees charged by IIT-JEE coaching centres, Hindustan Times reported.

The panel said that coaching has become a very "lucrative industry" and that students spend an average Rs 1 lakh a year on coaching classes and usually opt for a two-year JEE coaching course.

Stating that there has been a proliferation of coaching centres, the panel in its report said, "This has become a very large industry and had made students too much dependent on coaching centres. This has hurt the school education in a big way and also poses a major financial and logistics burden on the parents. A rough estimate puts the revenues of the coaching industry at Rs. 24,000 crores per 3 year (approx. $ 4 billion). This presumes that 12 lakh students attend coaching for 2 years and pay Rs. 1.00 lakh per year. The actual number of years for coaching may be more than this and hence the revenues maybe greater than the amount given above. It is desired that the dependence of students on the coaching centres be reduced."

Apart from charging fee for course material, coaching institutes may also charge for lodging and hostel related facilities, adds the HT report.

"It is suggested that it would be helpful if there is a regulatory body for the coaching institutions. As an example, An All India Council for Coaching for Entrance Examinations (AICCEE) maybe established with the demand that Coaching Institutes are well equipped and maintain healthy and best practices as well as charge regulated fees," the panel further said.