The php.ini file used to take effect before July 23rd (2015) (new build date of PHP version), but after that build date, the php.ini file no longer takes effect. I had tried renaming php.ini to .user.ini but no change. Also had a chat with GoDaddy server support team but they don't know much about this.
Can anyone help me to solve this?
Its starts working fine now. I think the changes in the settings might be the reason.