Set in the backdrop of the Emergency period in India in 1976, Shukranu is a humorous take on the aftermath of forced sterilization imposed during that time. The protagonist, Inder, finds himself in a dilemma when he is forced to undergo a vasectomy and how this decision affects his life and relationships.

After a chance encounter, Srikant's life takes a hilarious twist as he gets acquainted with a middle-aged ghost who insists on being his grandson from a previous birth. The story becomes even more amusing as the ghost implores Srikant for assistance in reuniting with his lost love.