This chapter examines the pivotal role of irrigation projects in driving economic growth, particularly in the context of agricultural development and rural prosperity. Drawing on empirical evidence, it elucidates the diverse economic impacts of irrigation interventions, ranging from increased agricultural productivity to enhanced value addition and job creation. Through analyzing the economic dynamics of irrigation investments, the chapter explores the contributions of Best Management Practices (BMPs) to agricultural productivity, food security, and inclusive development. Furthermore, it investigates the challenges and opportunities associated with irrigation development, including issues of water governance, environmental sustainability, and socio-economic equity. Through a multidisciplinary lens, the chapter offers insights and recommendations for policymakers, practitioners, and researchers to maximize the socio-economic benefits of irrigation projects while addressing potential trade-offs and ensuring sustainable outcomes.