I am planning to own a bike. My budget is around 55,000/-

Hi, its better to go for the stylish reliable Honda Twister. The bike has reliable 109 cc, Air-cooled, 4-stroke, single cylinder, digital CDi engine having 9 hp @ 8000 rpm of power and has 9 Nm @ 6000 rpm of torque and gives mileage of around 62 to 68 kmpl. Honda Twister is the bike of the year 2011 with rich advanced features and has good comfort in riding and handling.
You can also go for Hero Honda Passion Pro. The bike has reliable 97.2 cc, Air-cooled, 4-stroke, single cylinder, OHC, Digital CDi engine with 7.8 hp @ 8000 rpm of power and has 7.95 Nm @ 5000 rpm of torque. The Splendor Plus has a mileage of around 65 to 72 kmpl depending upon the riding style and conditions. So first test ride both the bikes and take a wise decision.

Thanks RJ, but i don't like Hero Honda Passion and Splendor. Twister is the good option, how about the Suzuki GS150R? Please suggest....

Good performance = Apache 160 RTR Hyper Edge
Good Mileage = Bajaj Boxer 150
Speed around 80kmph = All bikes can do 80kmph
Overall = Go for Apache RTR Hyper Edge. You will have to pay more than Rs 55000 for it, though. If you want a cheaper bike, go for TVS Star Sport/Hero Honda Splendor.

Go for Twister which quality and performance wise should be better than Passion.