I bought this phone recently its awesome model in this price range.Comparing with my lumia 535, the lumia 540 leads in camera as it has rear camera of 8 MP with the features like Digital zoom, black illuminated sensor which were not present in lumia 535.
But coming to display it has clear black display but does not have corning gorilla glass 3 as in lumia 535 while talking about the other features the screen resolution is 720*1280 pixels with pixel density 294 ppi.
The best thing of lumia 540 which makes it superior than lumia 535 is its battery life, it has 2200 mAh battery capacity which gives talktime of 26 hours.
I would say its a descent phone with quality features in this price range.