Resource sharing, selection, and aggregation are vital functions of grid computing. However, managing resources in a grid-based environment is a stimulating task. It is necessary to update the topographical dispersal of resources possessed by various organisations with various usage guidelines, financial frameworks, load, and availability patterns. Users and servers have different objectives, methods, and needs. This article suggests a cost-effective framework for resource management in grid computing to look at and address these resource management difficulties. The proposed framework has three main functions, which help in grid construction, load balancing, and resource allocation. A Genetic engineering approach has been implemented to establish a relationship between the resource pool and the jobs of the nodes that improve the resource utilization. The proposed methodology also optimizes the overall cost by minimizing turnaround time. The results of proposed research are compared with commonly used algorithms and claiming 1.5 to 10% better results.