Education: BE CS (Tier 3 college)
Years of Experience: 2
Company: Amazon
Title/Level: SDE1
Location: Bangalore
Salary/Base: INR 16 L
Signing Bonus: INR 8L first year. INR 6 second year.
Stock bonus: 8 units over 4 years (stocks over 4 years split as 5%, 15%, 40%, 40%)
Relocation: 1.5L
Total comp (Base+Signing bonus): 24L ( First year )
Current Compensation: 18 L (fixed)
Benefits: Standard Amazon benefits

Is this a good offer given my current compensation?
I feel the base should have been at least 17L
And can I negotiate after accepting the offer in case I got offer from another company?