Introduction: Asthma is a chronic inflammatory airway condition. It causes recurrent wheezing, coughing, breathlessness, and chest tightness. It significantly impacts global health. In India, it affects 17.23 million people (2.05% prevalence). Treatment focuses on inhaled corticosteroids and β2-agonists. Combination therapies are recommended for moderate to severe cases. Aims and Objectives: This study aims to evaluate and compare the effectiveness of Formoterol/Budesonide and Indacaterol/Mometasone as dry powder inhalers (DPI) in asthma patients, specifically in terms of Forced Expiratory Volume in one second (FEV1). Methods: Fifty-two patients with bronchial asthma were enrolled based on spirometry results and randomly assigned to two groups: Group A (24 patients) received a fixed-dose combination of Indacaterol (150 mcg) and Mometasone (160 mcg) once daily, while Group B (28 patients) received a fixed-dose combination of Formoterol (6 mcg) and budesonide (400 mcg) twice daily, both delivered as DPIs. Results: Initially, there was no significant difference in FEV1 between the groups at baseline. However, significant differences in post-observation mean FEV1 were observed between Group A and Group B at the 3-month (p = 0.001) and 6-month follow-ups (p = 0.045). Both groups showed a significant increase in FEV1 from pre- to post-observation at baseline, three months, and six months (p < 0.001 for both groups). Significant differences were also noted between the groups when comparing the mean change in FEV1 from pre- to post-bronchodilator (SABA) treatment at baseline (p = 0.001), 3-month (p < 0.001), and 6-month (p = 0.015) follow-ups. Conclusion: The Formoterol/Budesonide twice daily DPI combination proved to be more effective than the Indacaterol/Mometasone once daily DPI combination in improving lung function, as measured by FEV1.