Dear Manoj,
Welcome to this forum. Many questions ehh? But, rest assured that these queries come to everyone of us while applying for the PR. Here's what I feel about it:
1. Is this the right time?
...Yes. Anytime is the right time. Who knows about the future... may be your NOC doesn't stay in the 38 list later. Plus, the economy gets further worse, globally [God forbid]. In any case, once successful, u can always do your 'record of landing' & come back to your homeland to return to Canada later [when u think it would be better]. But, anyway u'll have to build your life from the scratch in a new country... challenges will be galore... so what's the point in 'now' or 'later'? If it were me, I'd start this trip the earliest possible.
2. How to proceed?
...Visit the CIC website - http://www.cic.gc.ca, select the category u want to apply, download the Apps Package, study the Immigration Guide & go ahead.
3. Do u need a consultant?
...No, not at all. The present processing system is quite easy & simple. The CIC website & forums like these is all what u need. Every step & action is so well documented in the site/guide that u cannot miss anything. A consultant might 'only' be needed if u r in a tricky position, vis-a-vis your Quals, Exp, Previous Rejection/s, Shortage of Time or anything that might be a concern of yours.
4. Which consultant in Bangalore?
...Again it's a personal choice if u want one. Google for the consultants of your area [word of mouth would be better], check them thru the CIC site for their 'good standing' under CSIC league & go for the best.
5. What is the duration of the process?
...Under the current 'fast track' processing system it takes anything between 6-18 months for the entire case completion. The avg being 12 months. Unless u run into 'red flags'.
End note: Go for it now, my friend... sooner the better.
All the best !
Qorax.