A system for allocation of resources and processing at least one job request within a distributed system, comprising: a processor; a memory operatively coupled to the processor for executing a plurality of modules (1506, 1507) present in the memory, the plurality of modules comprising: an application manager module operatively communicable to a resource master module for allocation of resources on at least one node of the distributed system; a local resource allocator module operatively located in a resource agent module and adapted to generate a master process module after the allocation of resources by the resource master module; the application manager module operatively communicable to the master process module after receiving the at least one job request; the master process module operatively communicable to the local resource allocator module thereby the local resource allocator module generates one or more sub process modules (1506, 1507) for processing the at least one job request based on the allocation of resources, wherein the local resource allocator module is adapted for allocating the resources by the following operations: allocating resources for the master process module, wherein the resources include buffer resources required to launch the one or more sub process modules (1506, 1507); and allocating buffered resources for the one or more sub process modules (1506, 1507). a processor; a memory operatively coupled to the processor for executing a plurality of modules (1506, 1507) present in the memory, the plurality of modules comprising: an application manager module operatively communicable to a resource master module for allocation of resources on at least one node of the distributed system; a local resource allocator module operatively located in a resource agent module and adapted to generate a master process module after the allocation of resources by the resource master module; the application manager module operatively communicable to the master process module after receiving the at least one job request; the master process module operatively communicable to the local resource allocator module thereby the local resource allocator module generates one or more sub process modules (1506, 1507) for processing the at least one job request based on the allocation of resources, an application manager module operatively communicable to a resource master module for allocation of resources on at least one node of the distributed system; a local resource allocator module operatively located in a resource agent module and adapted to generate a master process module after the allocation of resources by the resource master module; the application manager module operatively communicable to the master process module after receiving the at least one job request; the master process module operatively communicable to the local resource allocator module thereby the local resource allocator module generates one or more sub process modules (1506, 1507) for processing the at least one job request based on the allocation of resources, wherein the local resource allocator module is adapted for allocating the resources by the following operations: allocating resources for the master process module, wherein the resources include buffer resources required to launch the one or more sub process modules (1506, 1507); and allocating buffered resources for the one or more sub process modules (1506, 1507). allocating resources for the master process module, wherein the resources include buffer resources required to launch the one or more sub process modules (1506, 1507); and allocating buffered resources for the one or more sub process modules (1506, 1507).