Hello, 516 is a good score and has a chance of admission in MBBS for SC category under All India Quota. The colleges like 

1. Government Medical College, Patiala, cut off 458.

2. Government Medical College, Amritsar, cut off 478.

3. Guru Gobind Singh Medical College, Faridkot, cut off 453. 

These cut off marks are for the year 2018 for SC category under AIQ. Even if the cut off marks increase for 2019, the score of 516 has a chance of getting a government seat for MBBS as the cut off marks do not tend to increase at a higher range. Therefore, the possibility of admission is high. 

Good luck! 

Hi Abhishek!

Congratulations for such a great score in NEET 2019. Yes, surely you will get All India Quota seat under SC category. Each and Every college had less cutoff than your score. Government Medical College, Patiala , Faridkot and Amritsar have cutoffs in the range of 453-478 last year. So there are almost 99% chances of getting a Medical College under SC category.

All the Best!

Check out the following website for more information

https://medicine.careers360.com/articles/neet-cutoff-punjab