Supercapacitors are high capacitive energy storage devices and find applications where rapid bursts of power are required. Thus materials offering high specific capacitance are of fundamental interest in development of these electrochemical devices. Graphene oxide based nanocomposites are mechanically robust and have interesting electronic properties. These form potential electrode materials efficient for charge storage in supercapacitors. In this perspective, we investigate low cost graphene oxide based nanocomposites as electrode material for supercapacitor. Nanocomposites of graphene oxide and polyvinyl alcohol were synthesized in solution phase by integrating graphene oxide as filler in polyvinyl alcohol matrix. Structural and optical characterizations suggest the formation of graphene oxide and polyvinyl alcohol nanocomposites. These nanocomposites were found to have high specific capacitance, were cyclable, ecofriendly and economical. Our studies suggest that nanocomposites prepared by adding 0.5% wt/wt of graphene oxide in polyvinyl alcohol can be used an efficient electrode material for supercapacitors.