Cloud Computing (CC) has gained a tremendous popularity in past few years. The concept of distributed systems in computing network has been reached to a large scale. To implement the cloud environment efficiently, several challenges are to be faced. This paper elaborates the concept of Cloud Computing and throws light on the various challenges in the way of successful implementation of Load Balancing (LB) in cloud computing environment. LB is the major concern in CC environment which imbalances the robustness of the cloud computing system. This paper illustrates the need of load balancing and explores the available techniques of load balancing. The paper also concentrates on the requirement of fault tolerance (FT) in CC and discusses various FT methods. In the last, comparative analysis between present load balancing techniques is represented.