Abstract here are different theories and critical canons for analyzing works of art.Some critics have taken text as the source for formulating the real value of the work while others take socio-economic milieu, the role of language and its constituents like signifier and signified besides evaluating works on psychological/gender plane. Here again western and eastern critical parameters differ. On the one hand western theories are based on the ideology nurtured on alien concepts. On the other hand Indian theorists are also divided into numerous schools. Some critics take Indian literary theory as synonymous with Sanskrit Poetics, while other modern theorists try to take a balanced view, without brushing aside all western theories and accept...