The Present study was conducted in Udaipur District in Southern Rajasthan during 2013-14 with the aim to identify the existing farming systems and to study the economics and income and employment generation by different existing farming systems. Four prominent farming systems were observed in the study area, viz; FSI: Crop + Dairy (C + D); FS- II : Crop + Dairy+ Goat (C + D + G); FSIII : Crop + Dairy + Vegetable (C + D + V) and FS-IV : Crop + Dairy + Goat + Vegetable (C +D+ G + V) Girwa and Gogunda two tehsils were selected randomly for the study. FS - I was being adopted by maximum no. of farmers in Girwa tehsil while in Gogunda tehsil maximum number of farmers adopted FS-III. The total cost of farming system in Girwa tehsil was lowest in FSI and it was highest in FS-IV in both the tehsils. In Girwa tehsil the highest net returns were observed in FS-IV while in Gogunda tehsil highest net return were observed in FS-II due to internal adjustment of costs in taking goat and dairy enterprises along with crop cultivation even though the total costs in these farming systems were also higher. The return per rupee investment in both the tehsils of Udaipur district was highest in FS-IV (C+D+G+V) and On per hectare basis employment generated in Girwa tehsil was minimum in FS-III (225 man days) and maximum in FS-II (250 man days). In Gorgunda tehsil lowest employment was generated in FS-III (C+D+V) (250 man days) and in highest FS-IV (350 man days).