Cloud providers offer computing resources to their customers using either the reservation or on-demand plan. However, reservation plan is cheaper than the on-demand plan since the cost of utilizing the resources is low. Cloud providers provision their resources into virtual machine which are then allocated to the users as per the request for a specific period of time. The problem that arises is related with the efficient management and utilization of the available computing resources. The existing system does not take into account of the user's demand while making provisioning decisions. The proposed scheduler is based on time based scheduling with the main objective of utilizing the idle resources leading to the maximum utilization of the physical resources and with minimum overlapping in the task defined by the user. On the contrary, the implementation of the Time based Scheduler will lead to the increase in CPU utilization and memory consumption. So, the paper also includes a comparative study of the CPU utilization and Memory consumption with different techniques for implementing the scheduler. © 2014 IEEE.