Manish, Welcome to CarWale Forums!
Do NOT go for a used or smallish car, unless you are hopelessly out of budget -
1. I would HATE to sit in a crummy car for a full 2 hours daily for the 60 / 65 km commute. (let me know whether my estimates of Kolkata traffic condition are accurate
). Lack of cruising comfort is one way to start hating your commute and cars in general. Investing in a new car will make the commute a pleasure and would make you look forward to the commute rather than dreading them.
2. A smallish 'economy version' car means that AC will be insufficient/absent - will that be OK for hot, humid weather like Kolkata?
3. A small car will be light, low on safety (particularly if it is something like M800), so beware.
4. Power steering, brake assist will be very helpful in long commutes, otherwise you will be a good model for 'Revital' ads by the end of commute daily! For a novice driver, all these assist features will be very good to use.
5. All smallish budget cars are petrol. You would do well with a Diesel, given your long daily commute.
6. With heavy use, an old car will show its age every now and then, leading to frequent repairs and part replacements.
So the bottom line is, if you have the money, spend it where it will serve you, rather than keeping it in the bank and leading a dogs life. Bhavin's suggestion about Vista Quadrajet is very appropriate here, it is a very good VFM car with a superb, fuel efficient and powerful engine.
I am sincerely sorry if there is indeed a budget constraint, and the above translates to rubbing salt into your wounds. In that case, I would recommend using a charter bus / public transport.