OK then. Thanks. Here's the final rig. I've mentioned the prices as well in case anyone else wants to go for similar components.
proccy- Intel Core 2 Duo E7200 (Rs 5,300)
mobo- MSI P35 Neo- F (Rs 4,000)
GPU- XFX 9600GT (Rs 11,000)
RAM- 2x1GB Transcend DDR2 800 Mhz (Rs 1,800)
HDD- Western Digital Caviar SE 16 WD2500AAKS (~Rs 2,500)
DVD writer- Lite- On Super AllWrite LH-20A1P (~Rs 2,000)
monitor- LG L177 WSB-PF (Rs 8,500)
Keyboard + Mouse- Logitech (Rs 1,000)
Speakers- Altec Lansing BXR1121 (Rs 1,250)
PSU- Antec SP 500 (~Rs 2,500)
Cabinet- Cooler Master CM690 (Rs 4,000)
TOTAL: ~Rs 43,850
Thanks all for your help.