I read this book in my 2nd year of engineering. It was a great experience. The exercises given in the book are quite important for some algorithms are covered through exercises. The pseudo-code used in the book is very easy to understand. This is an excellent book for CS/IT engineering students seeking to have very strong base in Algorithm analysis and design.
However, you must also pay equal attention to practical aspect as mere learning and analyzing on paper won’t help in the longer run. So, either learn C+ or Java first. I would recommend learning C+ as one can learn coding in C+ in short time.
Therefore also buy The C Programming Language(Ansi C Version). overall i’m quite satisfied with the book and I advise every CSE or IT engineering student to read this book atleast once.