budget computer can it run latest games at good fps!

Looks like a decent build, I imagine you should get smooth framerates on any game if you turn down to medium or high quality settings.

If you're willing to overclock though, I'd change to a Pentium G3258 or AMD Athlon X4 860K and overclock them. The Pentium would give better performance in games but the AMD is a quad core so programs that take full advantage of that might run better. Also the new Farcry and Dragon Age won't even open on a dual core, might be worth getting a quad core in case other games follow suit.

PCPartPicker part list / Price breakdown by merchant

CPU: Intel Pentium G3258 3.2GHz Dual-Core Processor ($64.88 @ OutletPC)
Motherboard: MSI H81M-P33 Micro ATX LGA1150 Motherboard ($42.89 @ OutletPC)
Memory: Mushkin Silverline 8GB (2 x 4GB) DDR3-1600 Memory ($34.99 @ Newegg)
Storage: Seagate Barracuda 1TB 3.5" 7200RPM Internal Hard Drive ($46.89 @ OutletPC)
Video Card: EVGA GeForce GTX 950 2GB Superclocked+ ACX 2.0 Video Card ($155.20 @ Newegg)
Case: Fractal Design Core 1000 USB 3.0 MicroATX Mid Tower Case ($24.99 @ NCIX US)
Power Supply: Antec Green 450W 80+ Bronze Certified ATX Power Supply ($39.99 @ Directron)
Optical Drive: Lite-On iHAS124-14 DVD/CD Writer ($16.41 @ OutletPC)
Total: $426.24
Prices include shipping, taxes, and discounts when available
Generated by PCPartPicker 2015-09-26 11:34 EDT-0400


PCPartPicker part list / Price breakdown by merchant

CPU: AMD Athlon X4 860K 3.7GHz Quad-Core Processor ($73.89 @ OutletPC)
CPU Cooler: Cooler Master Hyper T2 54.8 CFM Sleeve Bearing CPU Cooler ($14.99 @ NCIX US)
Motherboard: ASRock FM2A78M PRO3+ Micro ATX FM2+ Motherboard ($51.99 @ SuperBiiz)
Memory: Mushkin Silverline 8GB (2 x 4GB) DDR3-1600 Memory ($34.99 @ Newegg)
Storage: Seagate Barracuda 1TB 3.5" 7200RPM Internal Hard Drive ($46.89 @ OutletPC)
Video Card: XFX Radeon R7 370 2GB Double Dissipation Video Card ($123.98 @ Newegg)
Case: Fractal Design Core 1000 USB 3.0 MicroATX Mid Tower Case ($24.99 @ NCIX US)
Power Supply: XFX TS 550W 80+ Bronze Certified ATX Power Supply ($51.99 @ Newegg)
Optical Drive: Lite-On iHAS124-14 DVD/CD Writer ($16.41 @ OutletPC)
Total: $440.12
Prices include shipping, taxes, and discounts when available
Generated by PCPartPicker 2015-09-26 11:39 EDT-0400


Both of those would give you better gaming performance for less cash (if you overclock). The i3 isn't overclockable.