A field investigation on direct seeded rice (DSR) was carried out in the two consecutive rice growing seasons of 2017 and 2018 at Pantnagar, Uttarakhand, India for the development and validation of soil test crop response (STCR) to fertilizer and for assessing the performance of STCR-treatments as compared to the general recommended dose (GRD) in terms of yield, nutrient uptake and use efficiency, and the economics of DSR. For producing 1 Mg of rice-grain, the required nutrients (N, P, and K) were 2.01 kg, 0.44 kg, and 3.06 kg; the contribution from the soil was 22.05%, 37.34%, and 41.48%; from applied farmyard manure 23.25%, 28.34%, and 16.80%, from fertilizer 38.08%, 49.93%, and 252.98%; and from fertilizer with FYM 44.83%, 60.57%, and 278.70%; for N, P, and K, respectively. The STCR approach, with or without FYM, at both the target yields (4.5 Mg ha−1 and 5.0 Mg ha−1) markedly enhanced the grain yield (20.2% to 32.3%) and production efficiency over the GRD. It also exhibited a higher NPK uptake and use efficiency, along with better profitability, than the GRD. Therefore, the STCR-targeted yield approach could improve the yield, economics, and efficiency of nutrient use for direct seeded rice.