The complex dielectric function, electric modulus, impedance and ac electrical conductivity behaviour of aqueous solutions of 5 wt% poly(ethylene oxide) (PEO) and poly(vinyl pyrrolidone) (PVP) and their different volume percent blends were investigated in the frequency range 20 Hz to 1 MHz at 15, 30 and 45 o C. It is found that the real part of dielectric function of these blends at 1 MHz decreases with the increase of PEO concentration and their dc electrical conductivity has strong correlation with the electrode polarization relaxation time. The static permittivity, ionic conductivity, electrode polarization relaxation time and apparent viscosity have linear behaviour with temperature variation at fixed volume concentration of the aqueous polymers blend. The viscosity of these aqueous polymeric blends increases with the increase of PEO concentration. The behaviour of hydrogen bond interactions between the polar segments of PEO and PVP were explored from the comparative change in dielectric parameters and viscosity of the two phase aqueous polymeric systems.