Yes, you are right. NIFT provides financial support on merit by providing some documents like Income certificate and all.
On the Income Certificate basis your fees will be decided.
I am attaching a link for the pdf, you can just have a look:
https://www.nift.ac.in/raebareli/sites/raebareli/files/2018-04/NIFT_MEANS_CUM_MERIT_FINANCIAL_ASSISTANCE_SCHEME_July_2011.pdf
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