An experiment was conducted during kharif 2011 at Agricultural College Farm, Mahanandi, to study the growth parameters, yield parameters, yield and nutrient uptake of rice in grain and straw. The results indicated that highest values of growth parameters viz., plant height, leaf area index, dry matter production and number of total tillers were recorded with application of highest level of nitrogen viz., 240 kg N/ha but it was on par with application of 200 kg N/ha and significantly superior to 160 kg N/ha. Higher number of effective tillers/m2, grain and straw yield were recorded with application of 240 kg N/ha and it was on par with application of 200 kg N/ha and significantly superior to 160 kg N/ha. Highest nitrogen uptake in grain and straw was noticed with application of 240 kg N/ha and lowest was with application of 160 kg N/ha. Also the highest gross returns were with application of 240 kg N/ha and lowest was with application of 160 kg N/ha. Among phosphorus levels, highest values of growth parameters viz., plant height, leaf area index and total tillers/m2 were with application of 80 kg P2O5/ha and lowest were with control. Highest number of effective tillers/m2, grain and straw yield were recorded with application of 80 kg P2Os/ha and it was on par with application of 60 kg P2Os/ha. Highest phosphorus uptake in grain and straw was noticed with application of 80 kg P2Os/ha and lowest was with application of control. Highest gross returns were with application of 80 kg P2Os/ha and lowest were with application of control. Application of 200 kg N/ha and 60 kg P2Os/ha was found most suitable for low land rice.