Hi tanmay and welcome,
It sounds like you're looking for a digital single lens reflex camera but most of them cost more than what you've budgeted. And some of the lenses cost more than the camera body itself.
Have you considered a DSLR-like camera. They are less expensive and take converter lenses. Below is some information to help you decide which type you want.
Let us know what you decide and perhaps we can be more specific with a couple of cameras to consider:
DSLRs:
http://www.digicamhelp.com/buying-guide/camera-types/dslr.phpDSLR-like digital cameras:
http://www.digicamhelp.com/buying-guide/camera-types/dslr-like.phpConverter lenses and adapters
http://www.digicamhelp.com/accessories/lenses/