Hello,

I think when you were asking this question somehow you were assuming that MNIT is better due to the fact that it is an NIT and that too a good one. So let me tell you how to measure a college.

Here are some of the key points which in my opinion matters a lot while comparing any institute.

1. Placements: Even though I hardly believe in theory of average package but still for everyone else I am including it. So average placements of MNIT Jaipur is less or almost equal to LNMIIT. Not sure of exact figures.
2. Higher Education: How many students are going for higher education such as MS, MBA,etc and from which Institute? I can assure you LNMIIT people are pretty good with getting into good quality higher educational institutions. Be it MS in foreign universities or MBA in IIM's.
3. Entrepreneurship: I hardly know any good startup culture in MNIT and this is what you can verify yourself. My batch itself has many startups. It does not matter if they fail or succeed, it is the learning which counts.
4. Internships: How many people are doing foreign internships or getting into programs like Google Summer of Code? There are large number of seniors as well as my batch mates who did foreign internships. In terms of GSOC, this year alone 15 students get selected, much more than most of the IIT’s.
5. Overall growth: At the end, level of studies will be same and courses will be same as well in both the institute. So it is over all growth which matters, which I personally find much higher in LNMIIT students. You will have some awesome seniors to help you out in LNMIIT ;)
6. Fees: In case fees is a matter then definitely MNIT is way more cheap. But again if you are getting any low level branch in MNIT, I would suggest you to take CSE or CCE in LNMIIT. I was in the same situation and took CSE in LNMIIT with a loan over my head. But at the end I don't regret that decison at all.

So IMHO you should seriously consider LNMIIT over MNIT. But again it is your career, choose whatever feels best for you.