Finally, I have arrived at a configuration for my Computer.
AMD Athlon XP 2800+ Barton 512 K
Gigabyte GA-7N400E-L Motherboard
256 MB Hynix PC-400 DDR RAM
120 GB 7200 RPM Seagate Barracuda
Samsung SyncMaster 793MB/793S/795MB
Kunhar ATX Cabinet with 300 Watts SMPS
Logitech Spill-resistant Standard Keyboard
Samsung Scroll Mouse
DVD ROM Drive
Any good UPS with 20 min Backup
Hope this is competitive for another 3 years. Rough calculation on the prices totalled to 32,250 INR.