The experimental field area was 540 m2 (30 m x 18 m). The experiment was arranged in Split-Plot Design with three irrigation levels (I1: 0.6 ETc, I2: 0.8 ETc and I3:1.0 ETc) in the main plots and mulching levels (M1: without mulch, M2: dry grass mulch, M3: silver mulch and M4: black polythene mulch) in the sub plots. Treatments were replicated four times. Each replication had twelve treatment combinations. The total depth of water applied in irrigation levels I1, I2 and I3 were 17.86 cm, 22.98 cm, and 28.09 cm, respectively. The maximum water saving (36.44 per cent) was achieved in irrigation level I1 and 18.22 per cent water saving was achieved in irrigation level I2. The water use efficiency ranged from 3.29 q.ha-1.cm-1 to 12.92 q.ha-1.cm-1 under different treatment combinations. The maximum water use efficiency (12.92 q.ha-1.cm-1) was found in treatment combination I2M3, followed by 11.76 q.ha-1.cm-1, 10.77 q.ha-1.cm-1, and 8.55 q.ha-1.cm-1 which were found in treatment combinations I1M3, I2M2, and I2M4, respectively. The maximum net income (Rs. 5,57,159.35 ha-1) and maximum B: C ratio (2.67) were found in treatment combination I2M3.