Analysis of variance indicated the existence of significant differences among the progenies for all the traits. Correlation co-efficients among grain yield and its fourteen attributing traits were estimated in two hundred F3 population of rice. The study revealed significant positive correlation of number of filled grains per panicle, spikelet fertility, total number grains per panicle, number of productive tillers per plant and 1000-grain weight with grain yield. Hence, the above correlated traits can be effectively utilized in formulating indirect selection schemes. Path analysis indicated maximum positive direct effect of total number of grains per panicle followed by spikelet fertility on grain yield, while bran oil content had direct negative phenotypic effect on grain yield and its correlation with grain yield was also negative and non-significant. Further, most of the other traits also exhibited positive indirect effect via plant height, productive tillers per plant and days to maturity but negative indirect effect via 1000-grain weight, number of filled grains per panicle and L/B ratio. Selection of plants based on total number of grains per panicle with maximum productive tillers and spikelet fertility is likely to yield productive desirable segregants in these populations.