Kolkata: After much debate the Indian Institute of Management (IIM), Kolkata, finally accepted the Government's directive on fee cut, but said that it would review its decision if the Institute's autonomy was affected or there was any adverse impact on its development plans.

"In a bid to find a way forward, the Government order may be implemented in the belief that it is binding on the Institute and that it is in the domain of Ministry of Human Resource Development to frame policies related to subsidy in education," the resolution prepared by the Chairman of IIM-C board Y C Deveshwar said.

Deveshwar had been authorised by the IIM-C board at its stormy meeting on March 26 to draft a resolution in the light of the majority opinion.

The resolution also said that the decision by the board was taken in view of, "The assurance by the ministry that the financial consequences of implementing the Government order will be fully funded by the Government and will not adversely impact the institute's plans to develop world-class teaching and learning infrastructure."

It went on say, "The explicit understanding that the fee cut will not result in any infringement of the empowerment of the Board as contained in the Memorandum of Association and that the empowerment of the Director and the Faculty bodies operating within the MoA will not be curbed as a consequence".

The resolution also made it clear that the net fee to be charged as per the Government order would be the current fee minus the subsidy provided by the HRD Ministry through equivalent funding of IIM-C.