It's probably the PSU unless the GPU fan is broken.
Take the side off and smell the GPU. Is the fan spinning?
Smell the back of your PSU where the cable plugs in, is the smell stronger there? If so, it's the PSU and you should stop using it until you replace the PSU with a better quality one.
That PSU is really terrible.
I'm assuming you're in India? These would be much better replacements: