Hello Harish, and welcome to Seven Forums.
Sorry, but Group Policy is not available in Windows Home Basic, nor can it be added.
The only workaround would be to set the group policy settings via regedit instead. To help, the links in the green info box at the top of the tutorial can help show you the registry locations for group policy settings. In addition, there may be a tutorial already written that will have a .reg file already created to make it easy to change as well. If you like, you could look through the tutorial index
for any that may be created.
Hope this helps,