CAT

First, decide yourself what you want to do MBA or job, because if you are planning for a good college then I would rather suggest you to study for CAT exam with complete dedication of taking admission this year. CAT needs a lot of practice and study to get admission in good colleges. If you waste time in deciding these confusions you will not able to give CAT exam at good stage. So I would suggest start preparing for CAT entrance exam with complete dedication and Self-motivation. Then if you get a very good score go for TOP MBA colleges to complete your goal and if unfortunately you couldn't able to crack CAT exam then you can go for any suitable job for one year then you will have time and you can prepare will for next CAT exam.
While doing your final year you will have a flow of study for CAT and at least you will not waste a year for preparation of CAT.

Majority of the CAT aspirants, before going for books first they start their own preparation in all the functional areas. Secondly, they should opt best coaching institute available to them nearby, normally, they can get good material provided by the coaching institutes. Further if they want, basically they can start with the external material like RS Agarwal as basic version of quantitative techniques later they can go for Sarvesh Verma of recent edition. For English basically one can start with Wren and Martin. Later they can follow the material provided by the coaching institute. However, regular practice in all function areas that would provide great success to any aspirant to conquer CAT examination with good score and percentile. Steadfastness, hardship is the only key factors for success.

Hello,
Most of your task is done for IIFT if you are preparing for CAT. Difficulty level for both the exams is at par. The only difference is the General Knowledge section which can be easily covered by Reading newspapers on a daily basis.
Ensure to solve mock papers for IIFT to get a look and feel of how the pattern is, what the difficulty level of the exam is.
Focus on your CAT preparation and IIFT preparation will follow.
Remember, do not try to put your leg into both the paper as far as preparation is concerned. Just focus on your CAT preparation. Try to complete your syllabus well before time so that you have time to agile yourself to set for IIFT also. Hard work and smart work will definitely make your way for both of the entrance exams.