Good question! The decision depends a lot on what you want to do in future. If you want to become a consultant or take up a management role in future, you would be better off doing a MBA later on.
If you want to become a data scientist / hands on analyst. There are 2 aspects to think upon:
If you were to make a simple financial decision - let us consider 2 simple scenarios:
Year 0 6.30 Year 0 -8
Year 1 7.25 Year 1 -8
Year 2 8.33 Year 2 10
Year 3 11.25 Year 3 12
Year 4 12.94 Year 4 13
Year 5 14.88 Year 5 15
I have assumed a 15% increase month on month with a one time correction of 20% in 3rd year. My assumption is that even though you will get a good initial placement - over time it will regress to the salary of a person with equal work experience (hard reality! that is the way things are seen in India)
So, purely from Financial point, it does not make sense.
There is a lot of CV value and network value which you can develop while you are in these campuses - which can benefit you immensely in future. It is hard to put a value on this.
If you want to take up management roles in future, go for an MBA. On the other hand, if you want to become a data scientist - it might not make sense from pure financial sense. But it is hard to put value of these elite institutes and future benefit coming from it. If you can study for another 18 months - you can consider the option.
Hope this helps