An experiment was conducted at Agricultural Research Station (Paddy), Sirsi during 2000-01, 2001-02 and 2002-03 involving both soil and foliar applied potassium to find out the best combination for attaining the maximum yield. The experiment consisted of soil applied K at different doses (100 % RDK, 150 % RDK and 200 % RDK) and foliar applied K @ 1 % through Muriate of Potash (10 g l-1) (No Spray, One spray at 45 DAP, One spray at 60 DAP and Two sprays at 45 & 60 DAP) totally making twelve treatment combinations. The results revealed that various levels of soil applied potassium failed to bring about any significant difference in yield (grain and straw) as well as on economics (gross and net returns). On the contrary, foliar application of potassium found to increase yields of rice significantly.  On an average over three years, the maximum grain yield, gross and net returns recorded with 1% spray at 60 DAP (6305 kg ha-1, Rs.41,674 and Rs.27,505/ha respectively) were on par with 1% spray at 45 DAP and 1% spray both at 45 and 60 DAP.  Significantly the lowest grain yield, gross and net returns (6029 kg ha-1, Rs.39,812/ha and Rs.25,741/ha respectively) were recorded in no K spray treatment. The influence of foliar spray on straw yield was not significant. Among the interactions, combined application of 150% K + 1 % spray at 60 DAP  and 100 % K + 1 % spray at 60 DAP recorded maximum grain (8080 kg ha-1) and straw (8673  kg ha-1) yield respectively during 2000 as  compared to rest of the treatment combinations.