Yes, a fresher student can get in trouble for ragging. For example, if a fresher threatens to beat another student up unless the student sings a song in front of the class, it is ragging.
A fresher can be punished just as severely as senior students. The college may choose to punish you through administrative means, such as suspension or expulsion. However, if a case can be made out against you under the Indian Penal Code, 1860, a police complaint will be filed against you, and you will be punished more severely.