what is the basic average salary an mba degree holder get

The starting salary would rather be based on the organization, its turn over and the responsibilities you get. If you are able to get into a profitable large organization with a big set of responsibilities and related work to deliver, then perhaps the salary would be to the tune of INR 25,000 to 40,

An MBA degree holder from IPS business school gets an average of 2.8lpa and maximum was 8lpa.

It depends upon where and at what position he is ready and capable to work but normally a good student get annual package from 2.4 to 6.0 lakhs at the start