Hello Tanmaya Joshi!

It depends only on college.As in some government colleges income certificate reduce fees of open category students . As in various IITs and NITs income certificate really helps in reducing fees.You should check in your college that policy is applicable or not.

Hope it answer your concerns.

Yes,it may reduce the fees of colleges of engineering as the student with less than 600000 per year with good score can opt for "TFW".

According to the tution fee waiver acheme the waiver in fee is provided. 

In which student doesnot pay the private tution fee of college and has to pay only 2000 per year.