Basic install means they will format your whole hard disk to one parition and install the OS. If Windows Vista is offered than that will be the OS.
If you want to see photographs, check out if some user has it (like blogs). Shopping and company sites are often misleading and except 3D flash or Java demo's, what you see isn't what you get.
As for the price after the budget, no idea about that unless you have sources in P. Chidambaram's office.

But as a rule, the price isn't going to rise, if taxes increase, the falling prices of hardware will always stabilize the effect.
Here are one configuration I made for you for Inspiron 6400-
Code:
Intel Core Duo T2250 @ 1.73 GHz, 2MB Cache, 533 MHz FSB
Genuine Windows Vista(TM) Home Premium 32 bit (English)
Genuine Windows Vista Premium Label (Free)
1 Year next Business onsite response with 1 Year CompleteCover
Basic System Install (Qty 1 System)
15.4" Widescreen TFT Display with TrueLife @ 1280 X 800
1024 MB (2X512) DDR2 SDRAM
256 MB nVidia GeForce Go 7300
120 GB SATA Hard Drive
Internal 8X DVD+-RW with Dual Layer capabilities
Dell Wireless Bluetooth Module
Dell Large Nylon Case
Price - Rs 61,549.00
The price comes close to your budget and the features are best you can get for that price and will take quite sometime to get obsolete. You can make changes as you like but try to avoid ATi Graphics cards (for their laxity in driver support for Linux), keep to nVidia; keep Vista Home Premium as upgradability in Vista versions is still a question mark and Home Premium suits 95% of home users; keep processor to at least 1.73 GHz for better performance. Any other configuration you think is better, post away.