First thing First: When it comes to placement, at least for CSE branch, CGPA takes the backseat in the list of criteria. No body gives a damn about your CGPA excpet some govt. companies like CDOT and DRDO, but the the no. of offers from these govt. companies will be less than 5% of total no of offers in CSE branch. Having said that, it does not mean, you will not care for CGPA. Academics matter. So a decent CGPA is always desirable. Why I say it’s desirable, because most of the companies will have a CGPA cutoff for shortlisting. For most of the CS companies the cutoff usually is 7 and above. Few companies even become more lenient and go upto 6. But hardly 3/4 companies including the govt. companies will be there whose cutoff would be a bit higher.
I have been observing the placement stats of my branch in NIT Rourkela starting from my second year in B.Tech till now even after passing out since last 2 years. I have seen just 7 pointers people grabbing the highest package in the whole branch, also seen 8 pointers passing out an average pkg. Strictly there is no corelation between your CGPA and the pkg you will get. It purely depends on your skills.