The current work reports a detailed calculation of electron impact excitation cross sections for the fine structure transitions of Mo from the manifolds 4d55s, 4d45s2, 4d6, and 4d55p to the manifolds 4d55s, 4d45s2, 4d6, 4d55p, 4d45s5p, 4d55d, 4d56s, 4d45s6s and 4d57s, using the Relativistic Distorted Wave (RDW) approximation for plasma modeling application. Multi-configuration Dirac Fock wave functions are used in the calculations. The oscillator strength and cross-section results are compared with the previous calculations and measurements. A comprehensive collisional radiative (CR) model is developed to characterize laser-induced Molybdenum plasma to ensure that the calculated cross-section can be used for various plasma modeling applications. The current CR model has taken into account the electron impact excitation and de-excitation processes using the calculated consistent cross-sections. The electron-induced processes are dominant kinetic processes in the laser-induced plasma. Furthermore, the diagnostics of the laser-induced Mo plasma is done by coupling the current CR model with the experimental laser-induced breakdown spectroscopic measurements of Mal et al. (Appl. Phys. B 127, 52 (2021)). The plasma parameter, i.e., electron temperature, has been calculated using nine measured intensities of the emission lines of Mo, with wavelengths 406.9, 423.2, 438.1, 453.6, 476.0, 550.6, 553.3, 557.0 and 592.8 nm. The results are also compared with the values reported from the Boltzmann plot at various delay times ranging from 0.5 to 5.0 µs.