IIT

IIT, Varanasi is among the top 6 public sector engineering colleges in India and has great reputation for its excellence in placements and faculty for all the different branches of undergraduate programs that they carry out.
This question is a little more complex to answer because of the fact that you have not mentioned any of the branches for departments in particular that you want to know the status of placements for hence I would consider all branches at an overall to answer this question.
The college supports best of the placements being an Indian Institute of Technology and one can be assured that he or she is in the best hands in the country.
One can expect an average placement package of 7 LPA considering all the departments in the college and the total was placement percentage of around 85%.
The highest placement package offered to the college was 1. 12 crore being an international offer made by a cop company.
Hence I would recommend you to take up admission to the college without any doubt.

Any institution whether it is a government or a private institute cannot become prestigious and top institution within a year of its establishment. Also, new IITs have their own identity and cannot be measured with the old IITs. they are not taking as much time as the time that had been taken by the old IITs to evolve into a heritage place for engineering students. The craze for the old IITs is the same as it was before but it's increasing for the new IITs because the curriculum, syllabus and management is just as same as that in the previous IIT but accompanied with a newly developed modern infrastructure. Also, with the increasing number of IITs, the fundings, as well as the facilities provided by the government, has increased so one cannot say that it has diluted the remarkable achievements of the previous IITs.
Thank you.

The answer to this question includes political as well as logical touch although both the institutions are centrally funded. There is a large gap between the quality of students getting seats in an IIT as compared to the one getting a seat in NIT. Also, the government has to maintain a good image for the technical education system of India so the preference is given to the IITs. Although the amount of money does not very much which is around 3500 crores a year. The money issued for officials working in the institution, the fests held and the job perspective is more for IITs again for creating a good image worldwide. Also, the government is not that much capable of getting the NITs and IITs to the same level. The reason is that one needs to understand keeping in mind the political statistics. NITs are doing too good when it comes to education for a better future scope.