Which are the most acclaimed and best rated Computer Game Programming
(or Console Game Programming) Institutions and courses worldwide? I
have finished
my B.Tech in IT and want to get into games big time. I would prefer an
institution I can join right away. But any info on this is welcome.

I am currently working on getting my Bachelors in Computer Science and
am also considering game development. I myself am interested in
Digipen, an elite university (http://www.digipen.com), but could be
difficult to get into. An excerpt from the website:
================================================================================
Welcome to DigiPen Institute of Technology, located near Seattle,
Washington, in the community of Redmond. DigiPen is an educational
institution that offers a Bachelor of Science Degree program in game
development.

DigiPen Institute of Technology is authorized to offer degree programs
in Washington State and is institutionally accredited by the
Accrediting Commission of Career Schools and Colleges of Technology
(DigiPen's Authorization and Accreditation details).

At DigiPen, students not only learn the skills for making games and
animations, but they also learn how to perform in teams, design
complete projects, and produce on a schedule. We offer degree programs
in Real-Time Interactive Simulation, Computer Engineering, and 3D
Computer Animation, along with summer workshops for a wide variety of
students, and outreach programs to high schools and technical centers
nationwide.
================================================================================
After talking to a friend online he pointed me to
http://www.eurocom.co.uk/careers/in-final.php which has a large
compiled lists of resources on how to enter the games industry.

Schools with multiple winners (finalists) in the IGF:
 #	#
Pro Student
 0	2 (2006, 2005) Grinnell College (Iowa)
 0	2 (2002, 2001) University of Oklahoma
 0	2 (2005, 2004) Royal Institute of Technology- Sweden
 0	2 (2006, 2005) USC Interactive Media Lab (Grad Program)
 0	3 (2006, 2003, 2003) Michigan State University
 0	4 (2006, 2004, 2003, 2002) Full Sail
 0	5 (2005, 2004, 2004, 2003, 2002) Georgia Tech
 3	15 (2006*, 2006, 2006, 2006, 2005*, 2005, 2005, 2004*, 2004, 2004,
2003, 2003, 2003, 2003, 2002, 2002, 2001, 2001) Digipen Institute of
Technology

That is: 
1 - Digipen is the only one that qualifies for professional, and it's
done that three times
2 - Digipen has placed more student showcase finalists than the next
four schools combined.
3 - Every year, Digipen has placed more finalists than every other school.

Schools with one student showcase finalist:
Media Design School, (New Zealand) (2006)
University of Texas, Austin (2006)
SunKyunKwan University, (Korea) (2006) 
UN, Reno (2005)
Game Academy, Kang Nam Gu (Korea) (2005)
MIC, Hong Kong Polytech Univeristy (2005)
Texas A&M (2005)
University of Utah (2004)
Linkopings Universitat, (Sweden) (2004)
University of California, Irvine (2004)
Iowa State University (2004)
Cogswell College (2003)
Utrecht School of the Arts (Netherlands) (2003)
Nathan Sorenson, Home Schooled (2002)
California State University, Chico (2002)
University of Kansas (2002)
Estadual Paulista (Brazil) (2002)
University of Waterloo (Canada) (2002)
University of Akron (2001)
Wurtzburg Univeristy (Germany) (2001)

So I think it backs up the previous comment.  It's a difficult school
to get in/finish from, but the placement rate in programming jobs on
graduation is very high.

You can check out the games at their website
http://www.digipen.edu

Best of luck.

Though I agree with you that DigiPen pumps out more award-winning
programmers and has the best placement program, I would like to
explain why that is--though it may be breif.

DigiPen resides on the campus of Nintendo headquarters of the US, and
Nintendo hires programmers straight from there when they graduate.
This, if you can be one of the lucky few who get to go through it, is
very fruitfull and will get you a very successfull life of game
programming; though I would only like to point out that it's not the
programmers that are winning the awards--it's Nintendo. Nothing
against Nintendo, but I would just like to point out another side of
all this.

Good luck, and I hope to see the fruits of your labor in the near future!