How do I create content importing data from an Excel file? I am using Drupal 6 and created a custom content type. I have an excel sheet that has more than 2 lacs entry. It is not easy to enter manually. 

Is there is any way to this, either programmatically or from the UI?
You need the Feeds module.


Export your excel sheet as CSV with column headings quoting every cell.
Download and install the Feeds module (and optionally Feeds Tamper).
Create a new Feeds importer to consume the CSV.
http://example.com/admin/structure/feeds/create
Set Fetcher (change) to file upload, Parser (change) to CSV parser and Processor to Node processor.
Map (exactly) your column headings in Node processor mapping.


I've used this with great success in Drupal 7 and once in Drupal 6. PS: Upgrade to D7.