Locomotion of a Humanoid robot with lesser number of actuators is a choice of interest, as it leads to energy efficient design. This work put emphasis on design of a humanoid robot with minimal actuation, minimal control and minimum development cost. It describes, design considerations and methods used for balancing and walking gait generation of a Humanoid Robot with 8 Degrees of Freedom. The proposed robot finds the place in between most sophisticated, complex humanoid robots and simple, miniaturized humanoids. Hand motion tracking and Gesture recognition are fundamental technologies for Human-Computer interaction. Same technology has been adapted for Human- Robot Interaction. For which a mechanism analogous to 'Data Glove' is used. The main objective of the project is to design a simplified Humanoid Robot with lesser number of actuators, make it walk successfully, perform certain common robot applications like obstacle detection and finally the Human Robot Interaction.