Kolkata

Dear Atul Surekha,
When UGC does not recognize, it is better to skip it. It is still a better course, you can go for it. ISB - Hyderabad offers PG program, which is not recognized by UGC and AICTE.
All the best.

Colleges have different seats for different courses. For exact numbers, you have to contact the college or talk to the present students.

Majority of IT companies hire fresh CSE students through campus placement. If average engineering college does not have campus placement then student may face challenges in getting a job.

PHP is at a downfall. You should start adding Python and Ruby on rails.

WBUT is a good option to pursue MBA or PGDM, but if you are willing to spend 5 lakh rupees, then try for other top colleges or government universities.

You can refer to the link mentioned below:
http://goo.gl/iSIbrS

IIFT, Delhi is quite ahead in all India ranking as compared to IIFT, Kolkata. Although students of both the campuses participate in the placements at Delhi. Students of Delhi are preferred by few companies over Kolkata students.

MBA and PhD in the same college is a rare possibility. Please do not constrict yourself to a single city. MBA is all about exposure and practical learning, it's always preferable to move out to different state or city. You have AMmity University in Delhi which provides such course and also ISB Hyderabad.