Suggest a TV for PS5. {55 inch}

Hisense U7H is a great 4k tv. Great HDR, great color reproduction with 2 years warranty. It's black level performance is a bit better than lg, samsung in the same price range because of dimming zones.
Hisense U7H, sadly it is different from the international variant reviewed by Indian model has an IPS panel with 32 FALD zones (vs VA panel with 72 zones), but still a good panel. It's similar to the panels used by Toshiba QLED & Vu Masterpiece apparently, but according to some Indian reviewers, the latter 2 have better colour calibration. But for under 45k, IMO U7H is an excellent choice for gamers.

Flipkart has it in stock.
When it comes to any Android TV, one thing you have to absolutely forget about is 'updates'. My Mi TV 4k box never received a single update (and I purchased it the first month of its launch). Ditched all shitboxes and went with Apple TV.
It's IPS vs VA. Take your pick.

For most people, IPS will be better because of the viewing angles. But on darker scenes, VA will look better because of the better contrast ratio.
Which would be better for ps5? ips or va.
Reviews and rating are more for lg on amazon and flipkart.So should i go for lg?
VA - Better contrast.
IPS - Better color accuracy and better viewing angles.

My pick would be an IPS because it's contrast is good enough but it's colors and viewing angles are a lot better.
If you want 120 Hz then Hisense U7H is your only option but if you are okay with 60 Hz then pick any random LG/Samsung/sony. If you want to use a sorround sound setup then pick a tv with HDMI ARC port and Dolby Atmos. If you are not planning to use a sorround sound setup then Dolby Digital is also fine.
Dolby vision is a must so make sure your tv has it.

Tv tech is so mature right now that the picture quality is almost identical in all TV's. I have a Hisense U7H and it has great HDR, great color accuracy and better contrast than equally priced LG/ Samsung.

Regarding service, I have read enough horror stories about Lg/ Samsung too so the service depends on your luck. Still I think LG/ Samsung/ sony should have better service compared to Chinese TV's.
Where was it available ?

Upto ₹6,000 off emi
Not sure about the instant 6k bank discount. This picnic from yday, found on desidime.

Can anyone tell does the LG 55UQ7500PSF comes with HDMI 2.0 or 2.1?
Only a 4K 120Hz TV comes with full bandwidth HDMI 2.1 port. 4K 60Hz TVs can advertise HDMI 2.1 & just put ALLM without having the full 48Gbps bandwidth. Similarly, a 4K 120Hz might not support 120Hz on all its HDMI ports. HDMI Alliance made the stupid decision to rename HDMI 2.0 as 2.1, hence the confusion.