Budget 0-20k Upgrade old rig OR New Desktop?-Please advice.

which one better option- to invest in PC by adding GFX + PSU + 2Gb RAM or simply throw money in PSP.?
Or figure out what the software issue is - drivers? frameworks? OS? - because a PSP emulator's hardware requirements are very basic, and your system should meet all the requirements easily.

The easy option of course is to just get a PSP, since he is playing PSP games.
 
PSU - Corsair CX 430 (~3k)
Ram - 2gb pc1333 (~1.5k)
that leaves you about 3.5k for a gfx card. I wouldn't recommend buying a new card for that amount as almost all cards in the $100 and below price bracket will be poor performers from day 1.
Option 1: up the budget if you plan to get a new card - the geforce gt740 64-bit(~7k), radeon r7 250x(~8k) or r7 260x (~9k) are some options.
Option 2: pick up a second hand card (be sure to get one that has at least a year of warranty left on it) for whatever you can swing.
 
^^^ Or may be Op can drop the plan for 2 GB ram and buy a better GFX card. which will leave him with 5k money. RAM can always be upgraded later..But I'm not sure if the 2Gb will be sufficient for today's games(I'm not exactly playing computer games since last 1.5 years). I think it should, except for a few tiles.
@OP, Crosair CX430 is what I have, since last 7 year, it worked well with my old gen Quad core Intel processor(I guess 100+ watt rated CPU) with ATI 4570 GFX card. Both were very heavy power consuming at that time, comparing to today mid range cpu/gfx card.
 
Or may be Op can drop the plan for 2 GB ram and buy a better GFX card. which will leave him with 5k money. RAM can always be upgraded later..But I'm not sure if the 2Gb will be sufficient for today's games(I'm not exactly playing computer games since last 1.5 years). I think it should, except for a few tiles.
Not worth it. For 5k, his choice of gpu's (unless buying a used one) is limited with sad performance. Buying a gpu should be a cautious decision because it's very frustrating to spend any amount of money and still have slideshow levels of performance or be forced to play at 1024 x 768. You will feel like you have wasted you're money.

W.r.t. RAM, majority of games recommend 4gb of ram and AAA titles require 4gb as a minimum with 8gb recommended. The 1.5k money saved will not provide better value than upping system ram to 4gb. Getting 4gb ram and a solid psu ensures a good base system that will last you a long time (money spent on these components is always worth it).

Given your budget requirements i would recommend option 2 from my previous post. Try olx/quikr or the 'for sale' forum here. you can try looking for a 460 or a 550ti (i've seen some online for around 4k).
 
PSP received, hence, GFx out now!:)
Option left to upgrade current rig are :- (1) RAM (2gb) (2) PSU
I'm so much constrained to spend bucks for 7 yrs old rig hence really concerning for cheapest-VFM option.
 
I'm so much constrained to spend bucks for 7 yrs old rig hence really concerning for cheapest-VFM option.
Do you plan on keeping this rig around or upgrading it in the future?
In that case you could hold of on the ram since ddr4 will start being used with the next gen of cpus coming from both intel and amd.
however you can definitely upgrade your psu as you will be using it even after upgrading the cpu/gpu etc.
 
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Do you plan on keeping this rig around or upgrading it in the future?.
Recently installed just before 2 months back- NEW Pentium G2030+Gigabyte H61M-S+ 2GB hynix RAM. No need to upgrade further except PSU, RAM and hard disk to 1 TB in future
In that case you could hold of on the ram since ddr4 will start being used with the next gen of cpus coming from both intel and amd.
Does ddr4 RAM could be suitable fit to recently installed mobo- NEW Pentium G2030+Gigabyte H61M-S+ 2GB hynix ddr3 RAM
however you can definitely upgrade your psu as you will be using it even after upgrading the cpu/gpu etc.
which 1 most VFM, among offered in the post?
 
Does ddr4 RAM could be suitable fit to recently installed mobo- NEW Pentium G2030+Gigabyte H61M-S+ 2GB hynix ddr3 RAM
I'm afraid ddr4 won't be supported with your current cpu. i believe right now only intel's haswell-e and broadwell cpu's use ddr4 and amd's next gen cpu's that will use it are only due in 2016.
so go with ddr3 if you want more ram. anyway, the performance difference will not be noticeable.

which 1 most VFM, among offered in the post?
You can go with either corsair or seasonic
i think the corsair cx430 smps will provide you best vfm.
Fyi: Corsair is cheaper but seasonic uses better components.
 
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