In India, floods and droughts are recurrent hydrological phenomenon causing huge losses to lives, livelihood, properties and infrastructure due to non-uniformly distributed rainfall both in time and space leading to the dimensionally opposite problems of flood and drought in different parts of the country. Out of 3290 lakh hectares geographical area, 40 million hectares is prone to floods which show high risk, vulnerability and is one of the most common hydrologic extremes frequently experienced by our country. On the other hand drought has a varying frequency from once in two years to once in fifteen years. It has been observed that there is flood in one part of country and severe drought in the other part. Various short term and long term measures should be adopted to prevent and mitigate the consequences of floods and drought rather than causing damages and losses due to interfering of the natural processes. In this paper, drought and flood problems in India are highlighted along with some of the important management issues requiring immediate attention. Furthermore, it presents the recently developed non-structural techniques for flood forecasting, flood plain zoning, glacial lake outburst modeling and decision support system.