Great phone in all aspects, superb operating system, very responsive screen, attractive look. search the net for good bargain. You can get this phone from approx Rs.6000 to Rs 9000.from various sellers.Do a bit hunting before you buy.
About the SMS bug. I was not able to receive bulk SMS’s ie SMS messages you receive from banks and IRCTC. It needs upgrade to the latest build ie "Spice_Mi-IND_VER8.0_1_130801_1156".You can check this from the "Settings menu-About phone".Check whether the phone is upgraded to the above version ie 01 august 2013 version before buying. If you are a bit knowledgeable in handling computers and phones you can do the upgrade yourself . I will give the link to the site where you can download the software and instructions in the end. The service centres can also do the upgrades for you. Check with your local service center whether they have the latest upgrade for the SMS bug fix.
All in all, for this minor problem the phone is a very good value for money and for the performance it delivers it is really a bargain.GO for it.