M.A

Yes, it is possible. Some universities permit any graduate to pursue MA in economics through distance education but demand BA in economics degree to pursue MA in economics in regular mode.

One can be a regular course and the other distance education, but depends on the university. Some universities permit a degree and a certificate course to be done together.

If going for a Diploma from IIMC then opt for it. Else, go for a degree course as that will definitely have more value.

Following colleges offer PG course for BA in functional English:
Jaipraksh University, Chapra
KTHM, Nasik
University of Calicut

The scope and job opportunities in order of precedence are in following degree choices of yours:
1. LLB.
2. Mass communications.
3. M.Sc Science subjects and
4. MA.

Dear Friend,
Kindly share the area of interest.
Thanks.

Hi,
IIMC is the best institute.

Can I know about your educational qualification? According to me, M.Sc is a good option. It has good scope. You can get a job in agriculture or chemical industry after completing M.Sc.

I'd suggest you to go for MA in economics. Study of economics is very much in trend these days. A lot of companies hire MA graduates for financial analysis. This course will definitely be beneficial for you. To pursue MA in economics, you can go for:
Indian Statistical Institute - Kolkata / Delhi.
Delhi School of Economics, Delhi.
Indira Gandhi Institute of Development Research, Mumbai.
Madras School of Economics, Madras.
Gokhale Institute of Politics and Economics, Pune.
UPES, Dehradun

Yes, of course you can do one regular degree and one distance degree simultaneously. But make sure that your exams doesn't clash because the exams of LLB are conducted semester wise but the degree exams of IGNOU held annual whether in June or in December.
All the best.