In Punjab, 99 per cent of total cultivated area is under irrigation but it is at the cost of declining ground water table. Due to rainfall variability and very high requirement of water in rice crop, which occupy large area in the state during kharif season, has further deteriorated the situation of water resources. Therefore, this study was conducted to identify the relationship between declining groundwater level, variable monsoonal rainfall and rice yield of different agroclimatic zones of Punjab. The historical data of rainfall for different locations of Punjab viz. Amritsar (1998-2017), Ballowal Saunkhri (1998-2017), Bathinda (1998-2017), Ludhiana (1998-2017) and Patiala (1998-2017) was collected from the Department of Climate Change and Agricultural Meteorology, PAU, Ludhiana and Met Centre, IMD Chandigarh. The productivity data of rice was collected from indiastat.com and Statistical Abstract of Punjab whereas the data related to groundwater table (1998-2017) were collected from the Central Ground Water Board, Punjab. It was observed that the ground water table level showed significant decrease after 2005 at all locations and there was a positive correlation between rice yield and ground water table at all the locations except at Amritsar where it was negatively correlated. The deficit rainfall years showed very less impact on rice yield which has increased continuously. However, the relationship between groundwater table and rainfall indicated that deficit monsoonal rainfall led to further decline in groundwater table as it was not recharged.