Method and system for system information acquisition in wireless communication system. Accordingly embodiment herein achieves a method for provisioning SI to a UE in a wireless communication system. The method includes decoding a broadcast channel to obtain first system information periodically broadcasted from a base station. Further, the method includes applying at least one cell selection parameter indicated in the first system information to camp on a cell served by the base station and storing the first system information. Further, the method includes accessing the camped cell based on at least one random access parameter indicated in the first system information. Further, the method includes determining whether at least one of a system information block of second system information available in the camped cell is provided based on at least one of the periodic broadcast and an on-demand basis. The on-demand basis to deliver the corresponding system information block of the second system information available in the camped cell is decided based on at least one of an indication and a flag included in the first system information for the system information block. Further, the method includes monitoring a paging channel to receive a paging message.