@narangz
processor - take 2800+,
and for ram i would suggest you to take 256MB(ddr400) now and after sometime put more if u need,
that way u can cut your budget n take a graphics card
take 400/450w SMPS,
n iball is not good, they just look good sometime, i will not recommend iball.
try NAVTECH

, their cabinets are very good.