This report explores how setting the right prices for irrigation water can help manage water scarcity and meet growing food and water needs. Various pricing methods like charging based on water use, farm output, or fixed area are reviewed to see what works best. The study examines how different pricing systems might impact farming and the economy. Water markets are proposed as a potential solution, but their effectiveness depends on local conditions. The goal is to offer guidance to policymakers on efficient water pricing tailored to specific situations.