Exemplary embodiments of the present disclosure are directed towards biofertilizer compositions comprising Chryseomicrobium palamuruense PU1T and methods thereof. The biofertilizer compositions in some embodiments further comprises of agriculturally compatible carriers. The biofertilizer composition was found to enhance growth in various plants with respect to physical parameters, phytohormonal and biochemical properties. The present invention disclosure also discloses that Chryseomicrobium palamuruense PU1T can be used as a bioinoculant or PSB for different agricultural soils of cotton and in conditions of less fertile soils.