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One hundred and eighty eight germ plasm accessions of Kodo millet (Paspalum scrobiculatum L.) were evaluated in a fieldstudy to assess genetic variability, heritability and genetic advance for eight yield component traits. The ANOVA revealedthat there were significant differences among the accessions for all the traits studied. High genotypic variance, phenotypicvariance, GCV and PCV were observed for dry fodder yield, plant height and grain yield per plant. Broad sense heritabilityranged from 97.18 percent for dry fodder yield to 56.63 percent for number of tillers. The highest genetic advance aspercentage of mean was recorded by dry fodder yield followed by grain yield per plant and plant height. High heritabilitycoupled with high genetic advance observed in the present study for grain and dry fodder yield per plant indicates that thesetraits are under the influence of additive gene action. These traits can be considered as favourable attributes for cropimprovement through selection.