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With rapid development of the internet, the tremendous growth has been observed in video sharing platform. Millions of users have been using this platform as source of knowledge, entertainment, self-development, but language barrier has confined the reach of this platform to certain amount of population. Also the hearing-impaired people could not make satisfactory use of this platform. Subtitles play important role in such scenarios, with the help of which people can understand the content of the video. Various applications have been developed for subtitle generation to resolve issue of language barrier and hearing impairment. In this paper we have surveyed different methods for speech recognition and bilingual subtitle generation and proposed a system for instant bi-lingual subtitle generation based on MFCC and HMM.