Text summarization is one of application of natural language processing and is becoming more popular for information condensation. Text summarization is a process of reducing the size of original document and producing a summary by retaining important information of original document. This paper gives comparative study of various text summarization methods based on different types of application. The paper discusses in detail two main categories of text summarization methods these are extractive and abstractive summarization methods. The paper also presents taxonomy of summarization systems and statistical and linguistic approaches for summarization.

As the volume of information available on the Internet increases, there is a growing need for tools helping users to find, filter and manage these resources. While more and more textual information is available online, effective retrieval is difficult without proper indexing and summarization of the content. One of the possible solutions to this problem is abstractive text summarization. The idea is to propose a system that will accept single document as input in English and processes the input by building a rich semantic graph and then reducing this graph for generating the final summary.