Which is better, an MME at NIFFT, Ranchi, or CSE at IET, Lucknow?

It is entirely up to you to decide what you wish to study, as CSE and MME are two quite different courses.

If you don't care about the branch and only care about the brand and placement, MME at NIFFT Ranchi is the way to go because the placement scenario is good with huge firms like TATA Motors, KPMG, FIITJEE, and others visiting campus every year. According to the recent placement statistics the average CTC offered at the placement drive is 4.50 LPA.

Furthermore, you will have the opportunity to appear in GATE, and NIFFT has a reputation for delivering single-digit ranks every year.

In the end, I would suggest you talk to seniors to get a clear picture. Only then make any decision.