Thank you for your request.

First, I would like to attract your attention on the fact we don't currently deploy Flagged Revisions on new wikis in a timely fashion.

Could you explain what you're trying to achieve with Flagged Revisions and how you want to use it (for example de.wikipedia uses it in a way different than the rejected 2010-2011 en.wikipedia experiment)? Do you have considered some alternatives?

The configuration is very flexible. You'll find more information on https://www.mediawiki.org/wiki/Extension:FlaggedRevs#Configuration. Ideally, the big lines of the configuration should be discussed on wiki. Then, if you provide a configuration template, it could help to process the request more swiftly.

I used this on hindi wiki when I was reviewer there and still use it as an admin. I feel cofortable with it. But on bh.wiki it is difficult to track changes as annon edits dont show any red flag!

I do have a question! Do you people have some better alternatives than this? if y! then plz tell me!

You can view all edits by unregistered users on Special:RecentChanges by using hideliu=1 parameter (eg. 1). Looking at the recent changes by IPs at bhwiki for the past 30 days, it looks like there are only a few edits. So reviewing these manually is better than going through the complicated process of installing FlaggedRevs, imo. If it is not sufficient, you might also want to consider patrolling edits. Also see https://meta.wikimedia.org/wiki/Flagged_Revisions

Ok then. You people can take the final decision whether to install it or not.

IMO, it's better not to enable FlaggedRevs.