Hello Aspirant

There is only basic difference between both of them,that is the fees.

So consider there is an xyz college:

You are aspiring for the college,the college takes students below 1000 rank and you got 5000 rank

So as per the government regulation,you cannot take admission in that college via government quota seats as you don' qualify the cutoff,but you can take admission in the same college by Institutional Management quota.These are the seats reserved by the college ,after all the rounds they will open up management quota seats and from there you can get admission in that same college but with more fees.

The fees will be much higher than the normal seat,it depends from college to college.

Regards!