Germany

As a mechanical engineer, Germany is the best option to do your PG course. Getting a seat in a top university will definitely lead you to a good job.

You should visit the DAAD website. They regularly organize free webinar to study in Germany.

Either you go for some paid Masters course, or choose some German taught Masters courses, because you are not eligible for studying in general English taught courses.

As per better education in mechanical engineering, Germany is the best, but as per PR, Canada is the best place for everyone.

You should opt for Germany as education cost is cheaper in Germany as compared to Canada. You have more job opportunities there particular for mechanical engineering. You need to learn the German language for that. Though Canada is good for Masters but it's more costly as compared to Germany. Canada is preferred for CSE.

Check out the link mentioned below:
http://www.google.co.in/url?q=http://www.scholars4dev.com/category/country/europe-scholarships/germany-scholarships/

Hello Ankith,
If you want to study embedded systems particularly, I'll suggest you to look into Europe. Few suggestions are:
KTH Royal Institute of Technology, Sweden
TU Eindhoven, Netherlands
TU Berlin, Germany
All three have really good programs in this course.

You have to give a proof of around 8700 Euro (min)/ year in VISA interview. I gave you last year data.

USA - varies 30L to 40L
New Zealand - varies 20L to 22L
Germany - varies 13L to 15L

60% is low, but try taking the GRE it might help. A score of 310 and above is good enough. If you have knowledge of German language it will add weightage to your profile. You must also take the IELTS or TOEFL before applying. Since you are in the final year of BE, so try for a high quality final year project. Everything counts, since your grades are low you must work harder to get yourself noticed. Keep other country options open such as Australia.
Good Luck.