What is the Correct way to pass parameters in function

The following is problematic in the OP’s code snippet:

• Missing shortcode_atts() for default attribute handling.
• Incorrectly defining the shortcode’s input argument, use instead function create_my_shortcode( $attr = [], $content = null ){ ... }
• Not escaping user input, check e.g. wpdb::prepare(). We want to avoid possible SQL injections.
• Uses hardcoded table prefix, wp_, instead of $wpdb->prefix.
• Fetches all fields with SELECT *. Better to fetch only what’s needed.
• Not returning the output from the shortcode’s callback.
• Incorrectly setting the shortcode’s attributes, should be called from the content with e.g. [my_ttcode key1="V001" key2="Sarpanch"] but use better descriptive attributes instead of key1 and key2.
• Maybe not using WP_DEBUG, when developing, as there would be PHP notices from eg. not initializing the $data string before appending to it.
• Not indenting the code properly, makes it harder to maintain and understand code projects.

Check e.g. the Codex for more general info on shortcodes.

Hope it helps!