  The energy spectrum and the nolinear cascade rates of MHD turbulence is not
clearly understood. We have addressed this problem using direct numerical
simulation and analytical calculations. Our numerical simulations indicate that
Kolmogorov-like phenomenology with $k^{-5/3}$ energy spectrum, rather than
Kraichnan's $k^{-3/2}$, appears to be applicable in MHD turbulence. Here, we
also construct a self-consistent renomalization group procedure in which the
mean magnetic field gets renormalized, which in turns yields $k^{-5/3}$ energy
spectrum. The numerical simulations also show that the fluid energy is
transferred to magnetic energy. This result could shed light on the generation
magnetic field as in dynamo mechanism.
