Vegetable cultivation is an awesome business in India, however it is difficult to judge how they are safe for human consumption as farmers spray large amount of  pesticides which not only increases the cost of cultivation but also leaves residual toxicity in  vegetables. To address these challenges, protected cultivation technology i.e., poly   house, shade net, micro tunnel etc., have been globally accepted in horticultural sector and there is a scope for economic viability of tomato and capsicum under shade net for profitable agriculture. The present study was conducted during 2016-17 to analyse the economic viability of vegetable production under protected cultivation the Kolar, Malur and Mulbagal taluks of  Kolar district of Karnataka by involving 80 vegetable growers. The viability of investment in the Shade net for cultivation of capsicum and tomato were analyzed by using project analysis parameters such as Net Present Value (NPV), Benefit Cost Ratio (BCR), Internal Rate of Return (IRR) and Payback Period (PBP).The Cash flow analysis was calculated based on estimated expenditure and returns for both capsicum and tomato crops  over the 15 years for analyzing the economic viability. The study highlighted that Investment on shade net for capsicum (BCR=1.69:1) cultivation is more profitable than tomato (BCR=1.48:1). The fixed costs for cultivation of both the crops capsicum and tomato under shade net were found to be same. The labour cost for capsicum (Rs.59, 493) cultivation was nearly equal to tomato (Rs.59, 181) cultivation under shade net in an one acre area. The variation in gross income and net income of both the crops was mainly due to stable price in market for capsicum as compared to tomato. Finally concluded that capsicum crop is more economical than tomato under shade net which create pathway for continues profitability as well as sustainability of agriculture.