Hi Akhil,
welcome, good to hear that GNU Radio peaked your interest!
You are absolutely right, C++, Python and Qt are among the most used technologies inside GNU Radio. And there is always lots to do outside of the actual DSP and theory thereof.
QtGUI related work is always much appreciated.
Regarding GSoC, Google hasn't announced which organisations have been accepted yet. So, we're kind of waiting until that happens (see their timeline [1]) before taking further action.
However, that doesn't mean for you to wait. You head over to GitHub, get familiar with the code, maybe consider working on some smaller related issues, get used to the workflow.
Sebastian