Could you please clarify if you are looking to buy a pre-built PC or do you plan to build one yourself?
If it’s the latter, with the current component pricing, I think building a gaming PC under 40k will be a challenge when one also wants it to be future-proof. It’s hard to cut costs without compromising on quality, performance and newer gen advantages. Having said that, it’s entirely upto you to decide if you are okay with getting previous gen components (which is perfectly fine as long as you can still get a lot of value out of it).
AMD build - Rs. 40,000 (AM4 - DDR4 - Not future proof)
https://pcpricetracker.in/b/s/58662c38-83bf-4d6f-9f86-2f0a14372788
The 5500GT has built in AMD APU which is far superior compared to Intel’s UHD graphics. You should be able to play most games at 720p low/med settings. Adding a GPU when possible is recommended though.
Intel Build - Rs. 49,000 (LGA1700 - DDR5 - Upgradable) [Needs a dedicated GPU to get video output]
https://pcpricetracker.in/b/s/3efa8d0d-32d0-41fb-a4ba-d1b0cb10a8cb
Intel’s built in UHD graphics isn’t suitable for GPU intensive gaming or rather, decent gaming of any sort. So, it’s advisable to get at least a used GPU like RX580 or a 1650 Super for decent 1080p gaming and streaming experience. Try to save up another 7k and invest on a GPU. If you’re bound by budget constraints and don’t plan on getting a dedicated GPU, it’s better to go with the AMD build since AMD’s APU has better graphics processor.
Here’s a video to get you up to speed on current hardware and terminologies when in comes to the PC building niche.
You could use
https://pcbuilder.net/list/
to check if the components selected are compatible with each other.
Regarding what you should be looking for when selecting CPU, RAM, etc, check out the /r/buildapc wiki link
https://www.reddit.com/r/buildapc/wiki/partsguide/