System based nutrient management practice for rice– rapeseed cropping sequence was studied in a field experiment during 2003-04 and 2004-05. Application of FYM at 2.5 t ha^-1 + Eupatorium at 2.5 t ha^-1 recorded maximum grain yield of rice (3.63 t ha^-1), productivity (4.68 t ha-1) and economics (Rs.12,621 ha^-1) of the system. The highest residual effect of organics on rapeseed seed yield was noticed with FYM at 5 t ha^-1. Application of 100% recommended dose of fertilizer (RDF: NPK 60:60:40) to rice followed by 50% RDF to rapeseed recorded highest rice grain yield as well as system productivity (4.64 t ha-1). However, no significant difference was observed in seed yield of rapeseed among the inorganic treatments. The maximum gross return, net return and benefit cost ratio was registered with 100% RDF to rice + 50% RDF to rapeseed.