I want to know when I typed - cheapest mobile phone in india. I get this website title inside the red box first (The title is not relevant to my typed phrase), whereas which is relevant, inside the blue box is positioned below.
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You're not searching for a phrase, if you put it into quotes and search google for "cheapest mobile phone in india" you get different results. The site in blue is actually on top when searching for the phrase.
If you just type into the search box google will look for websites that have most of the words you typed, the more the better. As John said google considers cheap and cheapest to be equivalent. Only when you put the phrase into quotes google will search for the exact phrase.