Should I pursue a Diploma after the 10th or should I finish my 11th and 12th. What are the pros and cons of doing a Diploma after the 10th?

Diploma after the 10th has some benefits like it will help to start your career early, it is mostly cheaper so it will be a cost effective alternative and you can take direct admission in 2nd year to B.Tech  or B.E courses through lateral entry. But there are some challenging that you may face like