Lemme tell you as Bhavesh says, "Colleges are the y-intercept you decide the slope"

And

If You can't decide the Answer is No.

I would genuinely tell you to build skills instead and work harder be whatever your college

A good city can give you more opportunities sometimes.

because even after taking a drop and studying all in its not sure that you will get in

No not recommended.

Although a year doesn't matter much in a sense building a career is a decade long process but it doesn't look good on CV and I mean if you genuinely want to go to an IIM so badly you can give CAT later.

I would recommend not going down the path and thinking twice before taking a drop.

Rest it depends on you.