Shared hosting means Your website is hosted on a server shared by other websites. The advantage of this setup is the shared cost. You can start hosting pay ₹59/month for sharing with hundreds of other websites.
The biggest disadvantage of a shared hosting account is that you're at the mercy of the other sites on your server. A really popular site may adversely affect the performance of your own site.

A VPS is a stepping stone between shared hosting and getting your own dedicated machine. Even though each VPS instance shares hardware resources, they are allocated a dedicated slice of the computing resources.
A VPS avoids the problem of having your hosting neighbors bring down your website, while avoiding the cost of a dedicated server.
Price Range: Most VPS hosting packages cost between ₹2000 - ₹6000.

A dedicated server is generally the highest level of server you would need if your online business grows into a presence that is getting a lot of website traffic. While the costs of a dedicated server is significantly higher than shared hosting, your business will be at a point that can easily afford the necessary costs of having your own server.

Pricing: Dedicated servers are priced from ₹25000 and up per month.

Cloud Based Web Hosting refers to a fairly new hosting technology that lets hundreds of individual servers work together so that it looks like one giant server. The idea is that as the need grows, the hosting company can just add more commodity hardware to make an ever larger grid or cloud.

The advantage of cloud-based web hosting is that if you get an unusually large amount of website traffic the web hosting plan can accommodate the surge of traffic - rather than shutting your website down.