Buddhism plays a significant role in the advancement of human values and in the context of the contemporary Indian scenario an urgent need is felt of such values for the individual as well as the social elevation. An attempt has been made here to address a general discussion on the human values and their potentiality of application in the present Indian society in order to reveal the fact that the values as preached by Gotama (Skt. Gautama) still remain meaningful for maintaining a peaceful and developing environment. The emphasis is again given on the moral values. It is very much necessary not because people here are becoming immoral to a large extent, but to establish a better society with lesser evils and to maintain a peaceful social atmosphere, communal harmony and national unity.