docs(README) - Bump version and configuration provided in the documentation

[abhisheksr01]

Description

The project has gone through significant changes in terms of config, and versioning of the respective tools used or replaced with the other tools. However, they are not appropriately reflected in the README.

Suggested Changes

I propose the following changes:

• Review each section and identify the sections that need to be updated
• Update the config and version of the tools used in the project
• The scope of this Issue should be limited to updating the config only in the README
• If the scope of the change grows I recommend creating another Issue

Affected Documentation

• README.md
• API Documentation
• Developer Guide
• Setup Instructions
• Contribution Guide
• Other (please specify):

Additional Information