Pilot

Hi,
Eligibility
Qualification: 12th
Mandatory Subjects : Physics, Mathematics
Additional Details: Candidate must also have passed the medical examination (Class I or II) from a DGCA approved medical center and have adequate competency in the English language. Candidates appear in final examination are also eligible to apply on provisional basis.
APFT Entrance Test--
Age: Minimum 17 years
Admission Process
Register and Apply
Interested candidates can apply offline with the required information.
Entrance Test
Eligible candidates need to appear for the APFT Entrance Test conducted by the institute.
Personal Interview
Shortlisted candidates will be called for Personal Interview based on the score in APFT Entrance Test.
Medical Examination
Eligible candidates need to appear for the Medical Examination (Class I or II) from a DGCA approved medical Centre.
Final Selection
Candidates are selected based on marks in 10+2, APFT Entrance Test and performance in Personal Interview.
https://www.shiksha.com/aviation/flying-pilot-training/course/commercial-pilot-licence-asia-pacific-flight-training-academy-shamshabad-hyderabad-194328

Engineering and CPL are two different streams altogether. There's no relation and it hardly matters if you are an engineer or any graduate, because the minimum requirement to become a commercial pilot is 10+2 (PCM). I would suggest you to choose your direction by your interest. Pilots and Engineers both hold responsible positions in the smooth functioning of the society. Since you have a budget of 50-60 Lacs, you can pursue CPL also which is otherwise an expensive affair when compared to Engineering. Your budget should allow you to join any cadet pilot programme offered by Jet Airways & Indigo Airlines. Apart from them IGRUA and NFTI are two premier Institutes in India for CPL Training. There are other institutes also who offer this training some are owned by state government and some others belong to private players. It is a matter of convenience and affordability for you to choose among them.

To be medically fit, you need to hold 2 medical certificates. Class 1 and Class 2 medical certificates. First of all, you have to get the Class 2 medical certificate, and if you are found medically fit in that, then you apply for the Class 1 certificate. I'm in class 12th, so you need to wait until you clear your boards. To apply for a class 1 certificate, you need to pass 10+2 boards. To have a class 2 certificate, you need to get these tests done.
Blood group (ABO & Rh), Hb, TLC, DLC, Urine RE (with ME and Sp Gravity) from NABL/NABH accredited lab/hospital. X-Ray Chest PAECG-Resting.
Audiometry and opinion of the ENT specialist. The opinion of the eye specialist. If a close family member has Diabetes/Hypertension/IHD or there is a history suggestive of kidney stones in the candidate additional tests may be required. If the BMI is 25, Blood sugar fasting and 2-hrs after 75 gm glucose, and Lipid Profile would be required. On spot, BP check and full body examinations are done by the doctor.
Good luck.