Abstract: The Present investigation was undertaken to develop liquid inoculants of Azotobacter sp. and Streptomyces badius and to evaluate its affect on yield attributes of wheat (Triticum aestivum L.) under field conditions. Both the cultures of Azotobacter sp. and Streptomyces badius were procured from the Department of Microbiology, Punjab Agricultural University, Ludhiana, Punjab and evaluated for their plant growth promoting traits. The quantity of IAA, phosphate solublization, gibberellic acid, ammonia production by Azotobacter sp. was 10.75 μg/ml, 21.74 μg/100ml, 77.86 μg/ml and 27.68 μmole/ml respectively and by Streptomyces badius was 13.39 μg/ml, 28.73 μg/100ml, 108.44 μg/ml and 32.48 μmole/ml respectively. Further, siderophore production was exhibited by Streptomyces badius only. It produced 104.89 µg/ml of catechol type and 62.84 µg/ml of hydroxamate type siderophores. Both the cultures were also found positive for ACC-deaminase. Liquid inoculants of Azotobacter sp. and Streptomyces badius were formulated using 2% PEG in basal medium and showed maximum viability even after 180 days as compared to charcoal carrier based formulation both at room and refrigerated temperature. Further, the field experiment was conducted during winter (rabi) season of 2016-17 at Punjab Agricultural University, Regional Research Station, Bathinda, Punjab with three treatments viz.RDF, RDF + Liquid inoculants of Azotobacter sp. and Streptomyces badius and: RDF + Charcoal carrier based inoculants of Azotobacter sp. and Streptomyces badius. This experiment was laid out in randomized complete block design and replicated thrice. The liquid inoculants as well as charcoal based inoculants of Azotobacter sp. and Streptomyces badius were found superior in yield attributing characters over control. However, percentage increase in grain yield and biological yield was highest with liquid inoculants. This might be due to higher survival of Azotobacter sp. and Streptomyces badius in liquid formulation. Thus, it can be concluded that liquid inoculants of Azotobacter sp. and Streptomyces badius can enhance yield of wheat. This combination may be used as an efficient PGPR for wheat production.