Hi aspirant, thanks for asking your query.

GATE stands for Graduate Aptitude Test in Engineering.

It is a prestigious all India examination conducted jointly by Indian Institute of Science(IISc) and 7 IITs on behalf of National Coordination Board-GATE, Department of Higher Education, Ministry of Human Resource Development(MHRD) and the Government of India.

The test primarily tests the knowledge of candidates in various undergraduate subjects of engineering according to their branch. The candidates who qualify the exam are eligible to get admission in postgraduate programmes with government scholarships in colleges like IITs,NITs, private universities based on your score. The qualifying student taking admission to postgraduate program(M.Tech.) also gets a stipend of Rs. 12,400 per month from MHRD,GOI.  

Many PSUs also give the job to GATE qualifiers such as IOCL,Power Grid, HPCL,etc. You can go to the following link to know more about PSU recruitment:

https://engineering.careers360.com/articles/psu-recruitment-through-gate

Hey there

Almost all PSUs recruit through gate now many private companies also are recruiting through gate due to its increased craze among engineering students. Also you can do Mtech from IIT or nit after getting good ranks in gate. So it is very helpful for those whose college is not like iits.

Check about gate

https://www.google.com/url?sa=t&source=web&rct=j&url=https://engineering.careers360.com/articles/psu-recruitment-through-gate/amp&ved=2ahUKEwiY4_i8h-fiAhX273MBHa4JCSgQFjAAegQIAxAB&usg=AOvVaw2onXz2XR1tMC7FfpKWuhNY&ampcf=1

Good luck