Is it a right decision to get admission in Calcutta University (English Honors)?

It depends on the college. If you are doing it from Calcutta University then it is good as CU has a good reputation, but not all colleges under CU has a good rapport.

Definitely, CU brand name works in your interview as an advantage, as CU is very much rigid and rigorous to provide marks. So, a CU guys having 50% is even well appreciated.