An investigation was carried out with 50 elite foxtail millet (Setaria italica (L.) Beauv) germplasm to evaluate the extent of genetic variability, correlation and path analysis of yield and its components during rabi, 2016. Analysis of variance showed highly significant differences for all the 13 characters studied ensure the existence of variability among the genotypes. High heritability coupled with high genetic advance was observed for all the traits except for days to 50 % flowering, which had high heritability and moderate genetic advance. The trait grain yield had strong correlation with its component traits like straw yield per plant, single panicle weight, panicle width, panicle length, flag leaf length, plant height, number of tillers per plant, length of inflorescence and number of productive tillers per plant. Path analysis revealed that length of inflorescence had high direct effect on grain yield, while other traits had negligible amount of direct effect on grain yield.