A 3 -years field experiment consisting of 2 planting materials viz., 3- bud setts and bud chips and 5 sugarcane (Saccharum spp. hybrid complex) varieties (‘BO 91’, ‘CoP 16437’, ‘CoP 16438’ and ‘BO 156’) was conducted during spring seasons of 2016-17, 2017-18 and 2018-19, to study the effect of planting materials and varieties on productivity of sugarcane under waterlogged conditions. Significantly higher plant population (157, 000/ha), plant height (292 cm), LAI (4.12), mortality percent (38.4%), length of internode (11.8 cm), millable canes (96, 300/ha) and B: C ratio (0.70) was observed with bud chip as planting material than three bud setts. However, significantly higher number of nodes having aerial roots (8.3), cane diameter (2.09 cm) and single cane weight (828 g) were observed with 3 bud setts. Among the varieties, ‘BO 156’ exhibited better growth performance under waterlogged conditions with higher tillers (175, 000/ha), plant height (295 cm), drymatter accumulation (29.5 t/ha) and number of internode/cane (12). The LAI (4.26) and number of nodes having aerial roots (8.9) were found higher in ‘BO 91’. Higher cane diameter (2.11 cm) and single cane weight (936 g) were obtained from ‘CoP 16437’. But the variety ‘BO 91’ recorded higher millable canes (107, 500/ha) which was statistically comparable to ‘BO 156’. The data indicated that variety ‘BO 156’ recorded significantly higher cane yield (78.0 t/ha), gross returns (₹226, 200/ha), net returns (₹107, 000/ha) and B: C ratio (0.90) but it was at par ‘CoP 16437’ in respect to cane yield and gross returns. The quality in terms of brix (19.5%) and pol (17.11%) of ‘CoP 16438’ and ‘CoP 16437’ was better than ‘CoP 092’ and ‘BO 156’ but the sugar yield of varieties ‘BO 156’ (9.1 t/ha) and ‘CoP 16437’ (8.4 t/ha) were at par to each other. The productivity and economic parameters indicated that bud chip raised settlings and sugarcane variety ‘BO 156’ is economically viable options under waterlogged conditions.