The study was carried out with an objective to evaluate the agronomic performance of 76 rice genotypes and to learn the variability, heritability and genetic advance of yield and its components. The genotypes differed significantly for all the characters viz., days to 50% flowering, days of maturity, number of tillers plant-1, number of effective tillers plant-1, plant height, panicle length, number of filled grain panicle-1, number of unfilled grain panicle-1, 1000-seed weight and yield plant-1. The phenotypic co-efficient of variation (PCV) were higher than genotypic co-efficient of variation (GCV) for all the characters studied indicating that they all interacted with the environment to some extent. All the characters studied in the present investigation expressed high heritability estimates ranging from 78.38 to 99.14 percent. High heritability values indicate that the characters under study are less influenced by environment in their expression. High heritability along with high genetic advance was noticed for the traits, number of filled grains panicle-1 and number of unfilled grains panicle-1. Other characters showed high heritability along with moderate or low genetic advance which can be improved by intermating superior genotypes of segregating population developed from combination breeding.