Well,it depends on the person's interest or aim.
For example ,if a person wants to do research in physics, chemistry or math, then obviously NISER is good being a research institute. But if a person wants to be a doctor or wants to do research in human biology then a medical institute will be better option.
If you want to enjoy in college then i would suggest NISER will be better option being it close to the capital city of Odisha. So, you can go to theatres every sunday or Saturday. You can take your girlfriend/ boyfriend out for a date to Bhubaneswar in the weekends. Also, medical students have to read a lot to cover their syllabus. Where as Syllabus in NISER is comparatively less than that of mbbs students.
The duration of integrated msc and mbbs are almost same( 5 years)
In placement perspective generally MBBS students get jobs more easily(govt medical students)than NISER students.Being a mbbs student they can start their own clinic or join some private hospital( if they don't get government job) and make money .Whereas the percentage of NISER students getting phd abroad or in reputed institutes of india is very less.
NISER is still a very good institute to complete msc if a student really want to study science( specially chemistry and physics) or wants to do research in science.If a non math NISER student gets greater than or equal to 7.5 cgpa in NISER then he or she gets a chance to sit in BARC interview. Moreover you will get a scholarship of Rs 5000 per month if you score more than 7 sgpa and pass in every subject in every semester .
Next come to struggle part . In research line you have to study for atleast 10 to 12 years to get a n assistant professor job.whereas in mbbs you have to study atleast 9 to 11 years to be a specialist, add 3–4 more years for surgeon. In both the areas you have to work very hard to get into a good position.
Next,if your pursue phd, then you will get scholarship of Rs 30,000 to 40,000 per month (depends on institute if you are not a jrf). Whereas if you become a government doctor after completing mbbs then you will get around Rs 70,000 per month, in addition to that praise from the relatives and society.
These are the key points coming to my mind while comparing these two professions.
Gourav Kumar Meher, studied at National Institute of Science Education and Research