I am going to tell all the Good and Bad Points of this college.

Bad points

1. It is a very small college. Very less exposure, poor crowd, no impressive clubs or personality development opportunities, when compared to other big colleges.
2. Placements are impressive, but in any college (including NITs) core branches are not particularly famous for yielding fat paychecks. The salaries are much lesser than Computer Science/IT departments. And only two core branches are offered here.
3. Campus is really small (65 acres) when compared to IITs and NITs and there is not really much that you can do inside the campus.
4. Ranchi is not exactly a dream destination, especially Hatia where the college is located. It is a small town. Even the main city is no where near big cities like Bangalore, Mumbai, Delhi etc.
5. Quality of students is not good when compared to IITs and NITs, as far as cutoffs are concerned.
6. Branches offered, Manufacturing and Metallurgical engineering, are not particularly the dream branches of an average high schooler.
7. NIFFT is not so well known. When you tell people about it, most of the times they will think if it is a fashion technology institute. It doesn't have a brand among the average population.
8. Some of the teachers are not much interested towards students and students have to work harder.
9. Relationship with seniors, specially in the first year is not as nice as in other colleges. There is constant fear of some level. There is also no concept of a fresher's party.
10. Although the institute is effectively autonomous, it is actually affiliated to Jharkhand University of Technology. So there is some lack of autonomy.
11. Sex ratio is really bad. 90% are boys.
12. Mess food is bad.

Good points

1. Because the institute is small in strength, ever student is focused upon which is why placements are almost 100%.
2. Placements at NIFFT are better than other colleges, including NITs as far as the concerned branches are considered. Both average and highest packages are impressive and majorly core companies visit the campus.
3. The curriculum and teaching here is excellent. All professors have contacts in IITs, NITs or are from there itself. GATE results each year are amazing. There is always a good number of students getting a top hundred rank and making it to IOCL, ONGC type Maharatna companies. Besides, students also show impressive results in CAT, Civil services. People from NIFFT have made it to places like MIT Massachusetts. Some of them have become professors at IITs and some have established their own businesses.
4. It is not at all costly, cheaper than NITs and it provides excellent facilities. Wi-Fi here is faster than my friend's in IITs and without any daily data limit. With the right device, we've even seen a download speed of 100 Mbps. Rooms are big, beautiful and much better than IITs. And I've been to a friend in an IIT fest so I can say this honestly.
5. Although Manufacturing Engineering is not as well known, it is actually a very good branch academically speaking. Usually, manufacturing engineers are those who major in mechanical engineering and over years of experience acquire the skills necessary for manufacturing industries. However here, it is a specialised branch created with the view of manpower generation and uses principles of mechanical engineering and manufacturing science to train engineers right from undergraduate level. If you read about manufacturing courses elsewhere (MIT Massachusetts, IIT KGP, various German University etc) you'll realise it is actually a good engineering discipline. Metallurgical industry is the mother of industrial world. Any industry, automobile or aerospace begins with metallurgy. And there are enough jobs in India for metallurgy, more than Civil or Mechanical.
6. It is good for introverts who are not particularly interested in partying or dating but rather studying.
7. or dating but rather studying.
8. Infrastructure is really impressive. There is ample government funding for state of the art laboratories, library and workshop and instruments and equipments. This is a natural advantage of any government college over private colleges.
9. Although general public may not be aware of it's existence, people in the industry respect the institute. It is directly under the Ministry of Human Resources and Development, Government of India. It may not be famous, but it is a national institute afterall.
10. There is a buzz that the institute may recieve the status of an Institute of National importance (currently given to IITs, NITs, IIITs, IIMs, AIIMS, IISER etc). It is already Asia's only institute that specialises in Foundry and Forge Technology.
11. Crowd may not be great, but is hugely diverse. People come here from all over the place. From Maharshtra to U.P and Bengal. From M.P and Rajasthan to Andhra. From H
12. imachal and Uttarakhand to Bihar.
13. It is a very old institute and although it doesn't have a very huge alumni network, NIFFT alumni are an excellent, successfull and awesome bunch of folks.
14. Overall it is a very chill place to spend four years of your life.
15. Although fests and events here are not comparable to IITs, NITs, the annual fest JINKS Pranav is actually pretty amazing for its size and showcases famous celebrities. (Shraddha Pandit, Asees Kaur, Gajendra Verma)
16. Ranchi is not much big a city but it will do. It is the capital of Jharkhand and has enough movie theatres, malls, public attractions etc. You can enjoy the City.