After creating partitions, u have to click on apply to apply changes.
Setting on your Galaxy Y
First of all backup your system and charge battery full.
Reboot in Recovery mode by pressing vol up+home+Power button together once you enter recovery mode touch screen become function-less so use volume up and down to move up and down, home button for selection and power as back button.
Go to Advanced and Debugging
Select partition SD card and select the partition size that you like
How to use Swap
For swap we need Swapper2.apk download from below link.
Download & Install Swapper2
After installing, open Swapper2 and navigate to Menu > Settings
Swapper preferences: (for kernels that doesn't have swap partition support)