Introduction to the study Value based living has been given utmost importance since time immemorial in India and elsewhere. Spiritual tenets guided people in their day to day lives. Family also played a crucial role in fostering values in a child. Dr. Altekar. A. S (1944), remarked that the Gurukula system was one of the most important features of Vedic education or the ancient Indian education as it necessitated the stay of the students at the home of the teacher where the students spent regulated and disciplined life keeping their senses diverted away from worldly attraction. Vedic teacher thought that if the students would learn good habits from their early life, their future would be peaceful and happy. Values Education is defined as education centered upon correct or socially approved living.1 'Ashtanga yoga' or the eight fold path was presented to the world by sage Patanjali, a few thousands of years ago. Yoga postures were prescribed to refine the physical body. 'Yama' (self-restraint) and 'Niyama' (observance) were prescribed to refine character and the other five to unite the soul with the Ultimate. The process of 'Yama' helps remove all the unwanted tendencies, thought processes and behaviour patterns through the practice of Ahimsa (non-violence), Satya (being truthful), Asteya (honesty), Brahmacharya (moderation of senses) and Aparigraha (attitude of nonpossessiveness). Cultivation of nobility of character was advocated through the positive duties and inner observances of 'Niyama' that include the qualities of Shaucha (purity,