If you can extend your budget slightly, I would recommend that you go for the 32LS4600. It is 31,500 Rs. on Flipkart (link). It is an over all great TV, and it has many good reviews. If you check the link, there are a few reviews from certified buyers, and it seems that people who purchase it do not regret it. It has a USB slot, and pretty much almost all video formats are supported by this model.
If you have any other questions, please let me know! I'll be happy to answer them for you.
LG WRman Sherlock, out!