The Lump like structure appears to be likely to be some form of skin tag;
Given that you have acne as well, the possibility of sebaceous gland overactivity and cysts cannot be ruled out.
A more detailed history and some clear pics may go a long way in making a more pucca diagnosis and help us help you better.
Feel free to hit us up Online.
Next Steps
Online Consultation and an in-person visit especially if you hail from Bengaluru may be best
Health Tips
If you have access to a spa/health centre/club etc, visit to a steam room for short spans followed by a cold 🚿 may greatly help resolve some of your issues.
Proper Evaluation by a Dermatologist and oral tablets may be in order depending on your particular situation.