Background: Marginalisation of Indian agriculture, due to increase in marginal and small agricultural households, brings the focus back on subsistence agriculture. Among other things, understanding the economics of subsistence agriculture will go a long way in making its practice viable by making sure the help that these subsistence farmers need are provided. Therefore, the present study attempts to study the economics of paddy-wheat and maize-wheat rotation cropping system practiced by subsistence farmers of Himachal Pradesh whose agriculture sector is known for its diversification towards high value crops. Methods: The study has used survey data collected from 60 randomly selected households from Rait block of district Kangra, Himachal Pradesh. 30 households practicing paddy-wheat rotating cultivation are selected from Boh and Drini village and 30 households doing Maize-Wheat rotating cultivation are from Machhlini, Panjol, Khridi, Rulede and Lahri village. The study is based on primary data which has been collected through a pre-tested schedule. Using the primary data, we have brought out factors other than self-consumption needs that determines choice between two farming systems and also two group of farmers are compared in terms of productivity, cost of cultivation and net returns from cultivation. Result: Our study found that irrigation facilities play an important role in the choice between the two cropping systems. Return from cultivation is negative for both groups of farmers if imputed value of family labour is included. Performance of paddy-wheat farmers is significantly better than maize-wheat farmers in economic terms in the study area.