Please suggest if my selection of debt funds is right or not

Your fund selection is fine and also the time horizon that you have for both the funds.

However, please note that ICICI Prudential Monthly Income Plan is not a pure Debt Fund. It is a Hybrid Debt Oriented Conservative Fund, wherein the fund manager can also invest upto 15% in equities. Having a small portion of equity in a hybrid funds helps investor get a little more return than debt funds. Since your investment horizon is 5 years for this fund, you may go ahead with your choice.