An attempt is made to develop and identify the best pearl millet hybrid for grain yield and fodder yield suitable to grow under low rainfall situations of scarce rainfall regions when compared with the best existing cultivars at AICPMIP, ARS, ANGRAU, Ananthapuram Center. The material for the experiment was developed during rabi 2011–12. A total of 67 single cross hybrids of pearl millet were developed in three sets. In the first set, 18 crosses were developed by using single female parent (ICMA 96444) and 18 different restorer lines derived from segregating populations of ICRISAT provided material. In the second set, 16 crosses were developed by using 16 different female parents (A lines) of ICRISAT origin and single restorer line (i. e. ARL-1) developed at Agricultural Research Station, Ananthapuram. Further in third set, a total of 33 crosses were developed by using 21 female parents (A lines) of ICRISAT origin and 16 different male parents derived from segregating populations of ICRISAT provided material. The total experimental materials (67 newly developed single crosses along with nine popular hybrids as checks) were planted in completely randomized block design in four replications during kharif 2012 at two locations i. e. in Field No. 3 and Field No. 12 at AICPMIP, ARS, ANGRAU, Ananthapuram Center. Data were recorded on 10 different morphological characters viz., days to 50% flowering, plant height (cm), productive tillers per plant, panicle length (cm), panicle diameter (cm), days to maturity, seed set under bagging (%), 1000-grain weight (g), grain yield per plot (kg) and fodder yield per plot (kg). Results revealed the higher values of GCV, PCV, heritability and genetic advance for characters grain yield and fodder yield. Based on association studies, the characters plant height, panicle diameter, panicle length, seed set under bagging and 1000-grain weight were identified as prime important characters, while going for selecting high grain and fodder yielding genotypes as they expressed significant positive association with grain yield and it was in turn positively related with fodder yield. From this study, it was found that the restorer line i. e. ARL-1 could be better utilized as good restorer parent on wide range of female parents based on the observation i. e. among three sets of top crosses, highest mean values for five characters (days to 50% flowering, plant height, days to maturity, 1000-grain weight and grain yield) were recorded in the second set of crosses and along with the better performance in maximum number of cross combinations for maximum number of characters studied where the common male parent (ARL-1) was used on different female parents of ICRISAT origin. Based on per se performance, out of the 67 single crosses evaluated, the two hybrids ICMA 96111 x ARL-1 and ICMA 96444 x 245 are identified as best dual purpose medium maturing and late maturing single cross hybrids, respectively, which are suitable to grow under scarce rainfall region with more than 40% yield superiority over the best check 86 M 64. For further evaluation, these two hybrids can be recommended for multi-location testing.