A self-consistent renormalization (RG) scheme has been applied to nonhelical magnetohydrodynamic turbulence with zero cross helicity. Kolmogorov's 5/3 powerlaw has been shown to be a consistent solution for d ≥ dc ≈ 2.2. For Kolmogorov's solution, both renormalized viscosity and resistivity are positive for the whole range of parameters. Various cascade rate and Kolmogorov's constant for MHD turbulence have been calculated by solving the flux equation to the first order in perturbation series. We find that the magnetic energy cascades forward. The Kolmogorov's constant for d = 3 does not vary significantly with rA and is found to be close to the constant for fluid turbulence.PACS numbers: 47.27.Gs, 52.35.Ra, 11.10.GhThe statistical theory of magnetohydrodynamic (MHD) turbulence is one of the important problems of current research. The quantities of interests in this area are energy spectrum, cascade rates, intermittency exponents etc. In this letter we analytically compute the renormalized-viscosity, renormalized-resistivity, and cascade rates using the field-theoretic techniques.The incompressible MHD equation in Fourier space is given bywhere u and b are the velocity and magnetic field fluctuations respectively, ν and λ are the viscosity and the resistivity respectively, and d is the space dimension. Also,The energy spectra for MHD, E u (k) and E b (k), are still under debate. Kraichnan [1] and Irosnikov [2] first gave phenomenology of steady-state, homogeneous, and isotropic MHD turbulence, and proposed that the spectra is proportional to k −3/2 . Later Marsch [3], Matthaeus and Zhou [4], and Zhou and Matthaeus [5] proposed an alternate phenomenology in which the energy spectra are proportional to k −5/3 , similar to Kolmogorov's spectrum for fluid turbulence. Current numerical [6][7][8] and theoretical [9][10][11] work support Kolmogorov-like phenomenology for MHD turbulence. In the present paper we show that Kolmogorov's spectrum (∝ k −5/3 ) is a consistent solution of renormalization group (RG) equation of MHD turbulence.Forster et al., DeDominicis and Martin, Fournier and Frisch, Yakhot and Orszag [12] applied RG technique to fluid turbulence. They considered external forcing and calculated renormalized parameters: viscosity, noise coefficient, and * email: mkv@iitk.ac.in 1