Alekh Chandra Mandal, a resident of Khandahar village in the district of Balasore, about 210 km from here, was the son of a couple who earned daily wages, police inspector M.K. Deo told IANS.
The 15-year-old was to sit for a test beginning Thursday. However, the school authorities asked him to pay fine to appear in the test.
The boy was upset after his parents expressed their inability to arrange the money in short notice.
The boy, who consumed poison Wednesday, died in a hospital after several hours of treatment.
Though no suicide note was recovered, police have started investigation after registering a case against the school headmaster on the basis of a complaint lodged by the boy's father, Deo said.