Hi dkumar2012,
Improving your GMAT score 110+ points in 45 days is doable, but it's going to require some significant work and you'll have to learn/practice some new tactics. I'd like to know a bit more about how you've studied so far and your overall plans:
1) How long have you studied?
2) What resources have you used?
3) When are you planning to apply to Business School?
4) Why do you have 45 days at most before you have to take the GMAT?
5) If you are not able to hit your score goal in 45 days, then what will you do then?
6) When you took the GMAT, did you finish any of the sections early? Did you run out of time in any section and have to guess on questions just to finish?
GMAT assassins aren't born, they're made,
Rich