The present investigation was conducted in the Agricultural and Horticultural Research Station, Kathalagere. The experiment comprised sixty-seven advanced breeding lines of paddy. The experiment was conducted in three replications with 4mx3m of plot size. The observations are recorded on days to fifty per cent flowering, Days to maturity, Plant Height(cm), Panicles per sqm, Grain yield per plot(kg) and Grain yield per hectare (Kg). The data is subjected to analysis for genetic variability and diversity parameters (Key factors of plant breeding). Higher Genetic coefficient of variability (GCV) and Phenotypic coefficient of variability (PCV) are Days to fifty per cent flowering, Days to maturity, Plant height(cm), Panicles per square meter and grain yield per plot (Kgs) should be considered at the time of selecting the genotypes/varieties/breeding lines for progressing and prospering in the yield and yield contribution towards the varietal performance. Genetic diversity studies proved that the traits viz., days to 50 per cent flowering, Days to maturity, Panicles per square meter, Plant height and Grain yield per plot are prompt traits that contributed maximum divergence to the genotypes. Some clusters are composed of superior genotypes that may contribute to the several crossing studies to improve through transgressive segregants with high genetic yield potential and early maturity.