While studying exact Sciences i often heard people arguing which of these two - Mathematics/Physics are the superior .

Few of the arguments:
Mathematicians say that Math is far more important since they describe a lot things and processes in this world.
Physicists say that physics are more important and mathematics are just as language that they use.

Your answer should not be limited only to these 2 sciences.

My personal view is that neither of these sciences are the superior, I think that the superior one is psychology.
Why? Because we live in society of humans, and every single thing in our world is controlled by your psychology it can be  consciousness or sub consciousness.
Wars, greed, desire to win, desire to lose,desire to reproduce.

What is you toughs?