Is an MCA from IGNOU good for my prospects?

IGNOU degree is accredited by the Indian government and is recognized as equivalent to a graduate degree in engineering in the United States. Students get their H1B visa stamped because it is considered a professional qualification, but they are sponsored by one of the top 5 Software MNCs in India, which is very important. A degree from IGNOU has enormous validity and recognition.

Sure, you may have difficulty breaking into the job market because most employers prefer "Regular" degrees from a reputable college or university. Nobody is lucky enough to get a job of their choice. The only difference is that distance learning requires you to fight more, both during your studies and in the job market. However, one should not overthink, hard work pays off.

Maintain your fundamentals, learn and master the latest technology, and prepare yourself to be versatile and competitive.

Your priority should be to find a job in your field of study, rather than a high-paying job. When you're in the field, your experience counts, and your degree usually takes a back seat.