What i think is it is to cater the power supply fluctuations if it is so then if i will use a normal 1.5v dry cell battery to power an IC lets say mcu.Is this decoupling capacitor is to be used
You still need them (more than ever in fact), and you should have a decent size electrolytic across the battery as well - to make the battery lasts longer, as it's internal resistance increases as it goes flat!.
What is a typical velue for a decoupling capacitor for lets say a 5v supply