In the present work we have introduced generic new type of Double Gate Metal Oxide Semiconductor Field Effect Transistor (DG MOSFET), with Dual Insulator (01) architecture. The gate insulator of the Dual Insulator Double Gate (DIDG) MOSFET consists of two laterally placed insulator materials with different dielectric constants. This novel gate insulator structure takes advantage of difference of dielectric constants in such a way that the threshold voltage near the source is more positive than that near the drain (for n-channel DIDG MOSFET, opposite for p-channel DIDG MOSFET), resulting in a more rapid acceleration of charge carriers in the channel near the source and a screening effect near drain region of channel due to which device shows significant suppression in the drain conductance and a higher drain current than conventional Double Gate MOSFET.