This paper presents a review on few notable speech recognition models that are reported in the last decade. Firstly, the models are categorized into sparse models, learning models and domain - specific models. Subsequently, the characteristics of the models have been observed using speech constraints, algorithmic constraints and performance constraints. The performance of these models reported in the literature is investigated and the findings are summarized. Eventually, the research gaps revealed by the literature are discussed and the need for Hindi based speech recognition system is substantiated.