Hi Abhijit K,
There are a variety of factors that go into selecting the Schools that you'll apply to. Here are some things to think about:
1) Is there a particular company that you want to work for or industry that you want to work in? Certain degrees are more appropriate than others if you have a specific career goal.
2) What do you want your MBA to do for you?
3) Do you want to go to School full-time or part-time?
4) Are you willing to relocate? Are you comfortable with working through a program that is primarily online?
5) Are you going to be applying for scholarships?
Etc.
It's okay if you don't have answers to any of these questions just yet. You do get to send your GMAT score to 5 Schools for *free* (it's part of the $250 test fee), but you have to choose the Schools the day of your Test, otherwise it will cost $28 per School to send your report out later.
GMAT assassins aren't born, they're made,
Rich