Hello Mr Brijesh,
Its a good idea to pursue a course in Sap BI. knowledge on java or SQL is not a pre-requisite for learning the SAP BI but will be an added advantage.
I would suggest you to pursue both BI and BO, as BI is includes data warehousing concepts as well as Reporting tools and BO only has Reporting tools. Later in the future, there is more scope for jobs for a person who has both datawarehousing and reporting tools. At present the market is slowly moving towards BO rather than BI. This would take another few years to completely shift to SAP BO.
I would suggest you to learn SAP BI first and upgrade your skills to SAP BO.
I dont think the training cost for learning the BI is as high as u quoted unless you go for certification too. But, in any case please tell us the place where you live and status of your education to guide you well.
Thank you,
All the Best :-)