CAT

I dont think so. For one thing, you would find it nearly impossible to get into a highly selective or highly ranked program. That because schools want to assemble classes with individuals who have something to contribute to the overall learning. Without having spent any time in the world of work, you would have little to add to many of the discussions.
Secondly, you would fail to get the full benefit of the MBA experience. Without having experience, you wouldn't see how what you learn has applicability to your effectiveness at work. Lacking that foundation would make a big difference in what you take away from the program and how much of it stays with you.
Finally, the companies that employ MBAs want people who have had work experience prior to getting the degree and the maturity in a candidate that comes from it. So graduating with no work experiencemost likely from a third-tier schoolwill not help your employment outcomes.
By the way, just so you have more inside information on what a particular school offers in its MBA program, you might want to download one of these free in-depth Insider Guides. We have them for the top 16 U.S. business schools. I think that after reading one of these on a school you would most love to attend, you will more completely understand how bringing two to four years of work experience into a program would make total sense.
Start preparing for CAT but give it after work experience

Here are the eligibility criteria for CAT 2017:
The candidate must possess a Bachelors Degree with at least 50% marks or equivalent CGPA (45% for SC, ST and PWD/DA category).
Percentage obtained in Bachelors degree would be calculated on the basis of practice followed by the concerned university/institution. In case of grades/CGPA, the conversion would be based on the process defined by the concerned university/ institution.
In absence of any percentage conversion scheme, candidates CGPA will be divided by maximum possible CGPA and multiplying the result with 100.
Candidates appearing for the final year of Bachelors degree/equivalent qualification are also eligible to apply for CAT.