The answer from @Emiliano is excellent. You can also pass named parameters like so:
powershell.exe -Command 'G:\Karan\PowerShell_Scripts\START_DEV.ps1' -NamedParam1 "SomeDataA" -NamedParam2 "SomeData2"
Note the parameters are outside the command call, and you'll use:
[parameter(Mandatory=$false)]
[string]$NamedParam1,
[parameter(Mandatory=$false)]
[string]$NamedParam2