How should I continue on from this position?

I ajucate a draw

On a serious note, both sides should seek to increase tension in the center and activate their pieces, maybe if black has the derring-do h5 to h4 might be an option to try to exploit whites light square weaknesses

what do you think about releasing the tension?

Hi AdarshSaji--this is very much the skeleton of a Semi-Tarrasch middlegame, where white has mysteriously lost a tempo and neither side has really broken symmetry yet.  The bishop on g2 is misplaced after the e3 push, so that gives you some advantage on the light squares.  Play in this opening typically revolves around creating an isolated pawn on d4, or the hanging pawns on c4/d4; white would isolate on d5 and make hanging pawns on c5/d5 instead.  So no obvious plan stands out here, but you'd want to target those squares while finishing your development: ...Qc7/Qd7, ...Rac8, ...Rfd8, etc.  I'd also recommend capturing both pawns in the center before white does the same.  If you play ...cxd4 in the next few moves, recapturing with a piece allows ...e5 or further trading, leaving white's pawn on c4 weak and isolated.  So white responds cxd4 instead, then you play ...dxc4 as well and after bxc4 you have the hanging pawn targets mentioned above.  Otherwise white is liable to do much the same to you, which isn't the end of the world, though it is for some and that's why the world is not filled with Semi-Tarrasch players.

Thank you Justin. That was really helpful. But don't you think the hanging pawns would be strong?

Scorpion-Kid-Cebu could you provide some variations?

I would also like to know the imbalances and the plans.

That's the debate that's often faced in this opening, or any system where one side accepts positional weaknesses for tactical counterplay.  Again it's really a matter of preference whether you damage your opponent's pawns or he eventually does the same to you.  The central tension can't exist forever though, so that plus the abovementioned major piece development is the only clear course of action at this point.

I don't want to know who wins or the entire game.I just want to know based on what factors you chose 1..dxc4 and how do you justify it as the right move in this position.

What do you think are the pluses and minuses for both sides?

Any ideas?