DOC: Readme.md

### What's wrong with the existing documentation

**Title:** Update README.md to Reflect Current Project Status and Guidelines

**Description:**

The current `README.md` file is outdated and does not accurately reflect the latest features, project structure, and contribution guidelines. An updated `README.md` is essential to provide clarity for new users, developers, and contributors.

### Proposed Updates:

1. **Project Overview:**
- Revise the introduction to give a clear and concise overview of the project, including its purpose and main features.

2. **Installation Instructions:**
- Ensure that installation steps are up-to-date, including any new dependencies or changes in the setup process.

3. **Usage Instructions:**
- Update any usage examples, commands, or walkthroughs to reflect recent changes in functionality.

4. **Project Structure:**
- Add or modify sections detailing the project structure (folders, files, and their purposes) to help new developers navigate the codebase.

5. **Contribution Guidelines:**
- Reference the newly proposed `CONTRIBUTING.md` file to guide contributors on how to get started with contributing.

6. **Feature List:**
- Update or add a feature list to reflect the current functionality and highlight any upcoming features or known limitations.

7. **Dependencies:**
- Ensure all dependencies are listed and updated to the latest versions used in the project.

8. **Licensing:**
- Verify that the licensing information is accurate and relevant to the project.

9. **Visuals (if applicable):**
- Consider adding updated screenshots or GIFs to showcase the application’s UI or new features.

### Importance:
A well-maintained `README.md` is crucial for ensuring that new users can easily get started with the project, while also serving as a quick reference guide for developers. It also helps potential contributors understand the project goals and how to get involved.

### Next Steps:
- Review the current `README.md` to identify outdated sections.
- Update the file to reflect the current status and workflow.
- Ensure that the documentation is clear, concise, and easy to follow.

Please @andoriyaprashant assign me this task with labels "GSSOC-Ext", "hacktoberfest-accepted" and "level2".

### Add ScreenShots

_No response_

### Record

- [X] I agree to follow this project's Code of Conduct
- [X] I want to work on this issue