UG stands for undergraduate degree
Its usually a 3 year course. Like bcom, ba or bsc.
And it's taken after completing 12th standard.

PG stands for post graduate degree.
This is usually a 2year course, like mcom, ma, msc.
And it's taken after completing your graduation.

Hope it's clear.
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Ug means undergraduate ,ie.,courses after class 12 equivalent to graduation
Pg means post graduate,i.e.,after graduation

UG-undergadute means bachelor degree like bsc bcom BA Btech
Pag-postgraduate means masters like msc mcom MA mtech.

under graduate
post graduate