Stories about practicing community radio for development in India have flooded news-report, journals, and conferences over the last five years. A lot of statistics have been computed and a number of reports are published to quantify and describe what is happening and who is affected and how, especially in third world countries. It is all about how the community radio experiments are changing the developing world and what happens to the people who do not have access to mainstream media. The paper looks community radio as a whole new world providing communication development support to the peoples residing in far flung areas of India. The paper examines an in-depth analysis of the existing frame work of community broadcasting in India along with historical background, legal and financial aspects, policy interventions, government, and corporate interest. In this paper the effort is also made to find out the best possible practices to bring community radio as a community participatory tool in India to ensure the participation of the underprivileged sections of the society in designing, producing as well as subsequent airing of radio programs mostly based on local community issues, problems, needs, and interests.