Hello Harish,
Depends, are you looking for a job or are you looking to be educated?
Job wise, it's not great. There aren't a terrible number of jobs in the field, and many of them will go to the people with connections over the best students. Outside of the field people I haven't seen much to tell me it's thought of better or worse than most liberal arts degrees. Most businesses are interested in how well you read, write, and communicate, though being able to comfortably talk about complex topics in political science can never hurt.
If it's education though, I do recommend it. If you enjoy the subject, like learning about it, then you should study it. You'll gain useful knowledge, read widely, and get much more out of the news than you might otherwise.
A degree in political science is not very marketable in and of itself, especially in the private sector. That said, the degree (particularly an advanced degree), coupled with the right experience, can provide you with more than a few opportunities. Furthermore, if you combine your political science degree with a strong statistics (or math, economics, etc.) background, that will overcome any objections of those that may see political science as an impractical pursuit.
Good luck!
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