I do understand there is way using Threads by emplying Qtimer and yes I do want it to update on a real time basis. I have experienced changing of these object Qlcd and Qlabel upon pushing button how ever i want it to update upon itself. Any help would be appreciated.
Since there was no answer from anyone I went in for digging and figured it out.
You need to add follwing code segment for repeated execution on a timely basis this helps the GUI update itself periodically for the stored variable data and update Qlable and QLCD widgets.
self.timer.timeout.connect(QtCore.SIGNAL(self.READ_DATA))
self.timer.start(51)
This upon trigger yield continus execturion as there is periodic signal generated.
Note: READ_DATA is the def i have declared in my program.