Please note that all the equipment I am mentioning here are available on Bajaao.com

First of all you need a good computer.

Secondly, you need a good “Digital Audio Workstation”.

Thirdly you need a good Audio Interface.

Audio Interfaces are the heart of a recording studio.

There are a lot to choose from but this post is about cheap stuffs so I am going to talk about all the cheap and good Audio Interfaces.

1. M-Audio Fast Track Pro

2. Focusrite Saffire 6 (I am using it and I will strongly recommend Focusrite’s products)

Studio Monitors (Speakers):

An Expansive Home Theatre System can’t produce the sound which a Studio Monitor can.

M-Audio AV 40 and M-Audio BX5a (They are the only good stuffs in budget range)

Microphones:

Without a good microphone a studio is worthless but as the post is only for budget stuffs, so the microphones I will recommend

Condenser:

1. Samson C01

2. Audio-Technica AT2020

Dynamic:

1. Behringer XM 8500

Make sure you have both condenser and dynamic microphones.

Midi keyboard:

They are important but a cheap one will satisfy your thrust.

M-Audio Keystation Mini 32 is a good one.

Headphone:

You need a good headphone to do late night mixing; I will recommend you

Samson RH-600 Audio Headphone

Cables

1. D'ALBERTO XLR-XLR 9M Microphone Cable

2. D'Alberto Angled tip Lead Wire (5m) Instrument Cable

Stomp Boxes:

They are really not important for beginners but you should have at least a Noise Reducer and a Compressor Pedal for recording guitars.

Recommendations

1. Behringer NR 300

2. Behringer CS 400

You are done but that’s not enough. Start you studio with all these equipment but as the time will pass you need some more better equipment for more and more quality on your production like a good tube pre amp (Behringer Ultragain Pro Mic 2200 is a good pre amp), some more good microphones etc. etc.

But with all these equipment you can start recording your songs.

Reminder- All the products are available in Bajaao.com

And you can add me on Facebook just type in http://www.facebook.com/soumyadeepnetwork in your web browser and add me in your friends list and there you can ask me more and more questions on recording and I will love to answer all your questions.