The admission in colleges for MBA is through entrance and no direct admission.

Some of the MBA colleges with less fees are(Total for 2 years):

FMS- Less than 1 lakh including the hostel.
JBIMS- 3 Lakhs p.a for General Students
TISS Mumbai-  Approx 2 lakhs.
FMS Bhu- Approx 2 Lakhs

These are all renowned colleges for MBA studies. Though the cutoff goes good.
Aim above 98-99 percentile to get into the above accordingly.

Good Luck!