Economics in India

1) Every corporation, financial service provider, financial institution, consultancy firm and public as well as government sector bank have positions for economists, research associates, research analysts, risk managers, debt managers, budget managers, investment analysts, economic advisory, econometrician, etc.
2) There is a good scope of teaching in schools, colleges and the universities. However, in order to teach in a university an M.Phil and/or a PhD is mandatory after clearing the JRF NET examination.
3) You have an option of writing the Indian Economic or Statistical Service Examination conducted by the Union Public Service Examination get into higher posts available in the government sector. Those who qualify this exam can get into the central government services which manage economic planning and analysis.
4) Various government organisations offering opportunities to economics post graduates (graduates too in some cases depending upon the eligibility for the applied post) are:
Planning Commission, RBI, National Council for Applied Economic Research, National Institute of Public Finance and Policy, also international organisations such as the World Bank, Asian Development Bank and the International Monetary Fund.

Hi Sachin!
The scope is plenty.
1. You can do further study M.Sc. M.Phil. Ph.D. And can opt for both school and college teaching. Please maintain a 55% marks in your M.Sc. As to seat in NET that is the minimum eligibility criteria.
2. You can sit for Indian Economic service that is highly prestigious, IAS level job, but comparatively with less work pressure yet it has great salary and perks.
3. You will directly get absorbed in many financial sector organisations, such as Bank, NBFC etc. , after possessing a good graduation and post graduation degree. Try to get a first class in both. 4. You will get benifit if you are doing MBA as you are both (a) from a non-engineering background and, (b) from a MBA/Finance related subject. Try to do MBA in finance. Please maintain atleast 50% in your graduation, as you need minimum 50% to seat in CAT.
5. You can appear for other government jobs and service's Exams.

There are no such cons of any course as every degree has its own value in the field. Although MA in economics is a hot qualification. One can get into the capital market as a researcher or economist. One can also join the media industry as a journalist, correspondent or writer. An MA (economics) armed with MBA finance is an excellent option for moving into the capital market domain as an Analyst. It is also an avenue of venturing into the academics line as a teacher/lecturer. Salary depends on a multiple factors but is never a constraint for the right person with the desired skill set and exposure. So, it's up to you whether you want to pursue it or not because it will help you to provide great career ahead.
Good luck.