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What is the purpose of writing CAT exam and how much percentage we should score in CAT exam and what are all the benefits by choosing the CAT exam?

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What is the purpose of writing CAT exam and how much percentage we should score in CAT exam and what are all the benefits by choosing the CAT exam?

Purpose of Common Admission Test (CAT):

The CAT is a computer based test national level test conducted for taking admission to the management programs offered at IIMs and other top B-Schools in India.
Candidates must hold a Bachelor’s Degree with at least 50% marks from a recognized university, are eligible for CAT examination.

Benefits of CAT:

You can get admission to top B-Schools or IIMs through CAT. After completion of MBA from IIMs or top B-Schools you can get very good job with high salary. Students passing out of these premium institutions are picked up by MNCs with attractive salary packages. The CAT provides the opportunity to study in best breed institutions.

Do the students who cracked CAT, get any reimbursement from government or students has to pay the academic fee on their own?