This PR does the following: [Explain here what your PR does and why]
i. initialise django
ii. install required libraries (like drf)
iii. setup cors
iv. update readme.md
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[x] The PR title starts with "Fix #bugnum: ", followed by a short, clear summary of the changes. (If this PR fixes part of an issue, prefix the title with "Fix part of #bugnum: ...".)
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[x] The PR is made from a branch that's not called "main/master".
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Overview
Essential Checklist
Proof that changes are correct
PR Pointers