I could get a solution to Clear the Application data programatically.. I could acheive it by Reflecting the method which is used to do clear data when we click the Clear Data button in the Settings->Application->Manage Application->App Name.. I had found that method from the android source..
Note:
The clear data fn only clears the data but not Force Stopping the app in 4.0+ , but the app is force stopping also while clearing the data in 2.3..
Thanks for the replies