BAMS

BHMS has a better scope.
After completing BHMS, you can do the following:
MD is Masters Degree level.
Ph.D is Doctoral Degree level.
The best option is to pursue both
However, you should watch ICMR website for announcement of Junior Research Fellowship(JRF) - Rs. 16000/- per month, & Senior Research Fellowship(SRF) - Rs. 24,000/- per month approx, for your PG and Ph.D. studies respectively. Also you must not forget to tick yes in the box for "Lectureship also".
You need this lectureship to apply for Assistant Professors & Associate Professors in government medical colleges.
Your pay packet at end of the first month itself will be about Rs. 48000/- to 50000/-.
This will be the minimum requirement for applying to ICMR Scientist Position also with similar pay scales.

BHMS has a better scope. After completing BHMS, you can do the following:
MD is Masters Degree level.
Ph.D is Doctoral Degree level.
The best option is to pursue both. However, you should watch ICMR website for announcement of Junior Research Fellowship(JRF) - Rs. 16000/- per month, & Senior Research Fellowship(SRF) - Rs. 24,000/- per month approx, for your PG and Ph.D. studies respectively. Also you must not forget to tick yes in the box for "Lectureship also". You need this lectureship to apply for Assistant Professors & Associate Professors in government medical colleges. Your pay package at the end of the first month itself will be about Rs. 48000/- to 50000/-. This will be the minimum requirement for applying to ICMR Scientist Position also with similar pay scales.