Turning my mobile into wifi hotspot using computer connection? I know that my mobile can turn into a hotspot using a configuration option.
I know that my PC can use my mobile internet through the usb cable.

But is the other way possible ? Can my mobile use my PC internet connection and then broadcast it as a hotspot ?
If you're using a PC with Wi-Fi, you don't need the mobile to create a hotspot: How to Turn Your Windows PC Into a Wi-Fi Hotspot

You should also be able to use this method if you're getting the Internet connection on your PC through a mobile device via USB.

Hope this helps!