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Before I answer this question, you need to understand something. PGDM degrees are awarded by autonomous institutes like the Indian Institute of Management, ISB Hyderabad etc. MBA degrees are awarded by universities like Delhi University, Mumbai University etc. So, in terms of fees, MBA courses if done from a government university will be way cheaper as compared to private autonomous institutes.
However, to get into any good Management college, be it government or private, you will need to be in the top percentiles of any of the MBA entrance exams in India like CAT, MAT, XAT,SNAP, CMAT, NMAT, GMAT etc. The registration process for most of these exams is open right now. So, if you have been preparing for MBA, and want admission in the 2017 academic session, apply now! Good luck!