Which course is better to persue and has more scope : B.Pharmacy or BSc,Msc in Psychology and PhD if i do not get a medical seat ?
This is an important decision to make, especially because both field have different routes that you might follow later in your life. Lets consider when you should pursue a particular course,
B.Pharm:
Should be done by a person who later wishes to join the corporate field in well known Pharma companies such as GSK, Wockhardt, etc. You'll also be able to take the MBA route after your graduation. This is a good option if done from a well known place and if followed by a post graduation in management.
Bsc,Msc in psychology:
In my opinion this seems like an excellent option, specifically for the reason that in the current medical set up, psychologists work very closely with psychiatrists. Psychology seems to be the growing field currently because of the increased emphasis being laid on Mental Health issues. You could also go the management route later if you field by combining this with a masters in marketing and advertising, which would make you a great consumer psychologist, who're of significant importance in todays FMCG companies. In case you have a passion for teaching you could instead do a PhD and become a Professor and Researcher.
Both have pros and cons, it is upto you to decide what kind of a job you see yourself doing later in life.