Hey Kankanwar, yes it will be risk taking to doing MPSC rather than placements. But MPSC is good exam and will giving you a pride after clearing that. And in other hand you'r cse student , if you study more about programming that definitely give you a high paid job.

I hope this will helps to you and thank you !!!

Yes, you can easily prepare for MPSC while preparing for the placements until and Unless you are in IIT's or top NIT's where chances of getting into super dream is quite high.

See, if you can get placed in any inside 1st month only then it will be a boon for you as you won't have to think of placements any more.

All the best!!