Hey Anindita
The decision for attempting Common Entrance Test (CAT) or UPSC Examination totally depends upon you. One must see where his/her interest is. If you have interest in Management, Finance and Consulting, you want to see your career in Management field, working in firms then you may prepare for CAT.
And if you wish to serve the nation, have a secured Government dutiful job and work as a dignified officer then you might go for UPSC. Note both the fields belong to different domains, Management [Private] and Civil Services [Government] , so you must analyse and decide which career path suits you best.
For further doubts, ask us.
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