This paper demonstrates the alternative measures to generate the Steep wave impulse by using Impulse Voltage Generator (IVG) for high voltage testing of porcelain insulators. The modification of IVG by incorporating compensation of resistor, inductor, and capacitor has been achieved and further performance of the modified system has been analyzed by applying the generated lightning impulse and analyzing the electrical characteristics of impulse waves under standard lightning and fast rise multiple lightning waveform to determine the effect to improve rise time. The advantageous results have been received and being reported such as increase in overshoot compensation, increase in capacitive and inductive load ranges. Such further reduces the duration of oscillations of standard impulse voltages. The reduction in oscillation duration of steep front impulse voltages may be utilized in up gradation of Impulse Voltage Generator System. Stray capacitance could further be added in order to get the minimized difference of measurement between simulation and the field establishment.