Learners’ active involvement in the learning process led to learning experiences. Meaningful learning experiences contribute to the learners’ holistic development, i.e., improvement in skills, experiences, knowledge, etc. In recent years, there has been a growing emphasis placed on the need of equipping learners with essential life skills because life skills prepare learners for their daily life. Life skills are introduced as a separate subject at CBSE schools, but integrating life skills with other school subjects is essential to prepare students for the 21st century. Conventional learning methods are widely used for the development of life skills among learners and advancement of subject-specific learning, but these methods are less potential and practical. Thus, there is a need for innovative, realistic, experiential and learner-oriented learning methods like situation-based method, activity-based method, children-led learning method, problem-based method, projects-based method, field-based method, case-based method, inquiry-based method and locality-oriented method can be used for constructing subjects cum life skills-based learning experiences. This paper provides an exemplary classroom-based activity based on problem-based method on science for the life skills development and improvement of science learning of the sixth-class learners. Proper assessment is very much needed to trace the life skills development and learning of different subjects of the learners. This paper provides a framework of life skills-guided holistic assessment. Besides these, the present paper gives prominence to learning experience, life skills development and subject-specific learning: an overview of key elements relating to school stage; need for redesigning learning experiences for the development of life skills and enhancing learning in different subjects; innovative learning methods for constructing holistic learning experiences; life skills-guided holistic assessment; and implicative measures for consideration. This paper has wide implications for constructing life skills cum subject based rich learning experiences; and assessing student’s life skills and learning regarding different subjects.