NIFT

It means that you are in waiting category. If there is any seat available after the entire selection process then you can get that seat.

Till the age of 23, you can apply for NIFT examination.

You could join under the Masters programme M.Des and MFM). You will however have to write the entrance test NIFT conducts every year during the month of February. Your UG background remains irrelevant if you can get past the test and have the right creative aptitude. And, Engineers are cool people who are able to understand and grasp anything easily. The salary package has a wide range. Anything between 4 - 9 Lacs p. a. But there are a few tier-1 companies like trident that offer more. I've heard it goes upto 15 Lacs p.a.
Good luck.

Now its too late. The forms were closed last year in the month of November-December.

https://www.quora.com/How-did-99+-percentile-prepare-for-CAT
You can find tips regarding the preparation for CAT. You will have to purchase the model test papers as they aren't available online. You can go to Flipkart or Amazon and buy the complete book.

Yes, you can appear in 2019, and NIFT score is valid only for one year.

You can participate, only if you have cracked GAT all ready.

NIFT entrance exam is national level, so their question and selection will be held at national level.
NIIFT selection process is easy as compared to NIFT, otherwise syllabus are same.

Hi Niveditha!
You can refer to Manorama yearbook for current affairs. Do some research over the internet about the famous design professionals and their career journey. Also, do read at least 2 newspapers daily and refer to design magazines for the information about the design industry.