The progress of modern society throughout the world has become heavily dependent on social media. The last few decades have witnessed the transition of social media from fun to necessity. A present generation student?s social, cultural and academic lifestyle appears to be very closely connected to social media. This paper is aimed at investigating the impact of social media and social networking sites on social, cultural and academic life of graduate/ post-graduate students of the district of Burdwan, W.B., India. A sample of 103 college/university students form the said district have been considered. These students? responses regarding their perception of different aspects of social media have been obtained with the help of questionnaire method. The data thus obtained has been subjected to several statistical analyses comprising of discriminant analysis, F-test, descriptive statistic etc., which resulted in various interesting revelations. Finally, logical and analytical discussions have been done with those findings or revelations.