China town is 2 mins down portland st on the right hand side, and bursting with choices.
Not a great deal immediately near that end of portland st, pizza express and barburrito on picadilly gardens is about it within budget, although mal maison and abode on piccadilly do both have some special deals usually, not sure how cheap it makes them though.
The majority of the nicer foody places are to the other end of market street, and either right, to the triangle/printworks, tampopo, wagamamas, a couple of italian places, nandos, hard rock cafe, old orleans, henry j beans, or left to st anns square, cross st and albert square, slug and lettuce, chez gerard, sam and thomas' chop house (ok they're pubs, but much more restauranty), a couple of chinese and indian places, and an armenian one on albert square (I think).
Dough, Ning, Sweet Mandarin and a few other bar/restaurant places are to be found in the northern quarter (at the back of debenhams basically, but ask for directions for anywhere)
If you're after nice food in the day check out the food market in the arndale (next to the market hall just off the high st, not the food court) some awesome food to be found in there, pancho's burritos is my favourite.