The answer is dependent on your level of interest.

The scenario at IIM Lucknow PGP-ABM is as follows:

• Placements: PGP and PGP ABM placements are both common. As a result, chances of getting into roles such as marketing, strategy, consulting, and so on would be higher than for Agri-Business-focused roles.
• Overall Knowledge: As an ABM student, you can take PGP courses such as Strategy, Finance, and Operations. This translates to a better understanding of business.
• Opportunities: Opportunities for an ABM student would be similar to those for PGP students at IIM L. As an IIM L student, you can compete in business case study competitions that are only open to top B-schools.
• Summer Internship: ABM Students are placed in companies such as BCG, Accenture Strategy, JPMC, Aditya Birla Group, Hindustan Unilever, P&G, Britannia, Airtel, Uber, Mars, PepperFry, Udaan, Hindustan Times, and others during their summer internship.

Many PGP ABM students prefer FMCG firms for Sales/Marketing positions.

• Agriculture-Specific Roles: Because of the small batch size, development sector organizations (NGOs, cooperatives, and government development agencies) and CSR foundations would be in short supply.

In short, you will almost certainly receive a higher salary at IIM Lucknow, but it may not be in an agribusiness/development sector organization.

The IRMA Scenario:

• A class of more than 160 students.
• The curriculum would be centered on agriculture and the rural sector.
• Placements: A large number of development sector organizations, NGOs, cooperatives, and government development agencies seek placements through IRMA.

For example, UNICEF, Tata Trusts (FISE), Vedanta Foundation, Reliance Foundation, and BAIF Development Research Foundation.

If you are very specific about agribusiness or rural development roles, you should apply to IRMA because of the large batch size and the increased number of Agri-specific roles coming to the campus. If you want to explore other sectors or domains and are looking for a brand name for life as well as a higher package, i.e. an experience similar to that of a PGP student, then IIM Lucknow is the place to be.

The simple answer is that the choice of the course depends more or your overall profile than the course itself. Irresponsible of your specialization your chances at placements will be low if your resume is below average. Moreover, institutes like IIM Indore and IIM Lucknow offer joint placements for both programs. 

Students can apply to any company irrespective of their specialization. Yet there are many who are able to get into their dream companies while some failed to get a call from a reputed firm. This is because the PGP program just added value to your resume and if that is already poor then even PGP cannot guarantee you a high-paying job.

So if you already have a good resume all you need to do is improve your resume in marketing and operations. This can be done through extra-curricular activities and B-school competitions. For this the PGP-ABM program is perfect.

But if you have a below-average resume, then go for PGP. Because then extracurricular activities alone will not improve your resume. You need class projects and good academic scores to upgrade it. Unlike PGP-ABM, you won’t miss out on basic electives related to marketing/ops/finance.

So nothing is certain about an MBA program. One needs to know what he will be doing after acquiring knowledge to decide which course to take. I will personally suggest you go for IIM Lucknow PGP-ABM if you just want to improve your resume.