Hii!
In simple words packages in Colleges are mainly concerned with the placement and the salary you are offered per annum. So, for example, if it says you get a package of INR 6 lakhs per annum, then it means you get INR 50,000 per month. This may include other expenses such as traveling, fooding, rent etc.,
Hope this helps.
Good luck!

Hello Aspirant,

Average package in college in means what package or salary you'll be getting after doing your graduation or post graduation course after you'll be getting placed with the company. It can be in bcom, bba, ba, MBA, MA or any other graduate and post graduate course.
If a college mention average package of this college is Rs 4 lakhs per annum . It means you'll be getting an average salary of 4 lakhs per year and around 33,000 per month.

Hope you understood:)