Advisable Links

How many links(Inbound,Outbound) are advisable(considering SEO) on a given page?

As many as you need and as many are appropriate.

If you have too many outbound external links, your site (or at least, that page) might look to much like a directory (or link farm), and any PR you have will be spread very thinly. But if all those sites are relevant to your content and to your visitors, put them in. You don’t want to have lots of people come to your site and then get stuck and not have a route to the information they want, because then they won’t come back next time. Bear in mind the ratio of links to the volume of content you’ve got. A page with a 2000 word article will often merit more links than one with only 100 words - but obviously that depends on context.

In terms of inbound links, the number is important, but not as important as the quality of them. Links from dodgy directory sites that give a link to anyone who wants one are worth nothing - neither in terms of SEO nor in attracting direct traffic. Links from authoritative and popular sites will do more to convince Google your site is worthwhile, and are more likely to have real people following them as well. In terms of numbers, if all your links are from worthwhile sites, there’s no such thing as too many of them!

So in summary - it depends - there’s no right or wrong answer.