Hi Yash,
The Google Summer of Code 2016 hasn’t even been announced yet. Django hasn’t applied to be a mentor organization, and it’s not yet certain that we’ll even apply.
However, assuming that we do - the best thing you can do to improve your chances to be accepted as a Django GSoC student is to start contributing now. Read up on Django’s contribution documentation [1], and make yourself known to the core team by your contributions. That way, when it comes time to evaluate student applications, you’ll be a known individual, and more likely to be able to get the attention you need to develop a proposal.
Yours,
Russ Magee %-)