See guys, @Bored_Aviator and @hitansh; I can hopefully clarify your doubts regarding this topic.
I have been researching for almost 2 years on the same question. Let me start by giving you 3 suggestions.
1) Nothing is guaranteed in the aviation industry.
2) Flying is an expensive profession.
3) Money spent on education isn't money wasted (atleast in the usual situations).
Long answer short, I've learned, "The cadet pilot programs are the easiest way to become a pilot in India"
1) Yes, they set you back around 90-95 lakhs whereas a traditional CPL+ MEIR + Type Rating + miscellaneous would cost you around 70 lakhs. But you will have to, after your training sit and compete with 1000's aspiring pilots like yourself for the vacancy of only a few 100's of positions (optimistically)
2) Airlines monitor the flight training institute and your flight training during cadet pilot programs so that you meet their standards and have a constant filtering process to only allow the best pilots to reach them. In a cadet pilot program averagely around 200-300 candidates apply for a batch of 20-25 cadets. I mean to say it is smarter to compete with 200-300 ab-initio pilots than 1000’s of CPL holders
3) Flying needs to be recent, Type rating needs to be current etc. (which obviously cost more money) are some of the risks to be remembered before opting for that path. Whereas the LOI (Letter of Intent) states that if you clear all your exams you will be full-time employed with your airline as a First Officer which is quite fair.
4) It is smarter to get paid for 6 months rather than be unemployed (with the stress of repaying your training costs). I feel so.
So if you can afford to, I would without any doubt suggest you to opt for a Cadet Pilot Program
P.S It is ethically wrong to refer to unemployed pilots as stupid.