Education - Professional courses - Engineering : why everyone into engineering??

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There are a lots of courses that are being offered after a student completes schooling. One such professional course is engineering. This is being chosen widely by lots of students. There is now a common belief among people saying that engineering is going down as the field is producing a lot of engineers. And here in India the IT companies recruit students from all majors and train them as per their need. Then what is the use of selecting a major like 'Computer science' or 'Information Technology'? why everyone are getting into engineering? will this field not get saturated after few years??