The major problem of the present and future world community is global depletion of energy supply due to the continuous over utilization of resources. It is estimated that fossil fuels will be exhausted in coming decades (Cavallo, 2002). The increasing demand of ethanol for various industrial purposes such as alternative source of energy, industrial solvents, cleansing agents and preservatives have necessitated increased production of this alcohol. Ethanol production is usually accomplished by chemical synthesis of petrochemical substrates and microbial conversion of carbohydrates present in agricultural products. Owing to depleting reserves and competing industrial needs of petrochemical feedstocks, there is global emphasis in ethanol production by microbial fermentation process. Increased yield of ethanol production by microbial fermentation depends on the use of ideal microbial strain, appropriate fermentation substrate and suitable process technology (Brooks, AA 2008). Production of ethanol provides several advantages over gasoline like-utilization of abundant and inexpensive renewable resources, reduction in green