Dear Prerna, I think you never try in private colleges like Lovely Professional University, Chandigarh University, Sharda University and Amity University and many more. There are a lot of universities which provide BS eco Hons course in own curriculum. Drop is not a good option as per my view just explore alternative options.

All the best

Hello prerna

First of all congratulations for scoring 88 percent marks in boards, not getting admission due to merit is very common problem, you are not the only one facing this , so please don't worry and think calmly what you can do, see dropping a year is not very easy , it comes with several things like frustration, pressure from family, friends, society and many things so, before dropping just take a broad thought that can you take this much for your dream ? If the answer comes yes !  then don't think twice and just go for it , work hard as much as you can , think this the only chance you got ,  and if you get this attitude, you will surely crack any competition examination.
Just don't worry , you can do anything :)

All the best :)