Dropping is completely your choice considering your aspirations and confidence in performing better in the next fall.

However, I would suggest you with a Rank where you secure CSE ar Northeast NITs or Newer IIITs, you also do secure Mechanical, Chemical, Production or Metallurgical Engineering at Good NITs, and also at NIT Hamirpur, Himachal Pradesh or other NITs nearby like Srinagar, Jalandhar, Kurukshetra, Delhi, Jaipur and PEC Chandigarh.

You may consider taking admission in one of them, considering both Vicinity and Branch, and hence besides continuing with Curriculum you may prepare for Next Year's JEE Exam. Many of my friends did follow this Route and ended up in Good Engineering Colleges like IITs and Top NITs the following Year.