The best Govt. ones (as far as placement is concerned) are:
SGSITS - Indore
MITS - Gwalior
These two are Govt engineering colleges which are quite famous for the placements(read arnd 80-90%) in the M.P. circuit.
Another good Govt college is SATI- Vidisha but lags behind the other two in placements only.
Rest all colleges told by Chetan are really nice especially LNCT - Bhopal.
You can also have a look at OIST-Bhopal as it also has a great reputation.
NOTE: LNCT,OIST -Bhopal are Private Colleges still rank higher than few govt colleges.
For good colleges in MP I am considering Placements as the main Parameter.