Masters in Computer Applications is a masters degree which is suited to provide the resources for the Sotware industry. MCA will provide the individual with the required Technical and Management skills to start and grow his/her career in software industry.
Coming to the career prospects after MCA,
1) You can Join as a S/W engineer with a prospect of becoming a project Manager in 6-10 years.
2) You can become a lecturer teaching computer applications.
3) You can do a Phd in computer applications.
4) You can join company as a DATABASE ADMINISTRATOR.
5) You have option to do work as a n/w engineer.
6) You may be good WEB DEVELOPER.
Though the options 2 and 3 are available 99% of the MCA's will go for option 1.
MCA is recongnized as equivalent to MS in computers in USA. So, in future if you come to US you will be treated as a masters instead of a Bachelor's.