Also related is this thread.
Fast Fret - any good?
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Hey swashata,
nice to meet you here! I just can back all the others up with that in my opinion it is not really needed to spend money and time for additional products to lube the string. Wiping them with a cloth is never a bad idea when it gets too messy with your playing 
What I do think is string choice makes a huge impact on how long they last and how much fun you have when playing.
As my favorites have not been mentioned yet, I’ll do so: I exclusively use Elixir strings (the “Nanoweb”, phosphor bronze versions) https://www.elixirstrings.com on all my instruments. They have a special coating/webbing/whatever you call it around them, which makes them last pretty long. Additionally they are a bit smoother to play (again IMHO). The coating affects the tonal properties compared to uncoated p/b strings, yes, but if you get used to them or even like them from the beginning, you’ll get along Other brands have coated versions as well, but I always found the Elixirs to be outstanding in regards to feel and tone in comparison.
So maybe see if you can get a set and see for yourself if they suit you.
Hope this helps! Cheers!
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I’m also a fan of Elixir coated strings. The other brand I like is Cleartone, similar to Elixirs.