Food security refers to availability and accessibility of adequate food and nutrition to all people at all time. It is regarded as the backbone of national security and well-being. The need for achieving food security is felt significantly in India in recent years due to the pressure from increasing population. Food availability, accessibility, stability and utilization are necessary conditions for food security. India has achieved self-sufficiency in food grain production. But it is yet to achieve food security as a large proportion of its population (21.9% in 2011-12) are below poverty line. Hence, this paper attempts to assess food security situation in India, trend in Monthly Per Capita Expenditure (MPCE) and identify challenges to food security and suggest policy implications. The study is mainly based on secondary data. The data were collected from the reports of various rounds of National Sample Survey Organisation (NSSO). It compares the Monthly Per Capita Expenditure (MPCE) and distribution of households and persons over the MPCE range separately for the rural and urban sectors of the country. The data were analysed using percentage, ratio and descriptive statistical methods. The study found that there were a huge difference in the monthly per capita consumption expenditure and consumption pattern in rural and urban areas. Further, it was found that the expenditure share of most of the food item groups in total consumption is higher in rural than in urban India. But in case of non-food items,the expenditure share is higher in urban India.Over the 18 year period from 1993-94 to 2011-12,cereals have the largest decline in expenditure share from 24% to 12% in rural India and 14% to 7% in urban India.On the other hand, expenditure share of durables,fuel and light,miscellaneous goods and services showed a rising trend.Alongwith these, the paper tries to draw the attention towards various challenges for achieving food security in India and their possible solutions.