Can you please help me in hosting a website. Following is what I have.
1) Domain name registered with godaddy.
2) I bought Economy Linux Hosting with Cpanel
3) I have the a) index.html file
Just 3 files to be hosted and point it to the domain name that I have already registered.
Thank you in advance.
Sounds like you have the "bones" of your site. Now you need to point/designate your domain for your hosting account. Here's info on how to do that.
You would then upload/FTP the files you have to your hosting account root. More info here.