An experiment was conducted for two consecutive seasons from February 2012 to November 2013 in the Instructional Farm of College of Agriculture, Vellayani, Kerala to study the effect of fertigation and foliar nutrition on water use efficiency, water productivity and water economy in banana cv. Nendran under precision farming. The experiment was carried out in split plot design with six main plots and three sub plots, replicated thrice. The main plot treatments included basin and drip irrigation with soil application of full dose of nutrients and drip fertigation using different water soluble fertilizers at 60 per cent recommended dose. Foliar application with 19-19-19 and bunch spray with sulphate of potash along with control constituted the sub-plot treatments. The study revealed that fertigation of 60 per cent N and K as urea and muriate of potash along with soil application of 100 per cent P as rock phosphate and fertigation of 60 per cent RDN (recommended dose of nutrients) as 10-10-10, urea and sulphate of potash were equally effective as soil application of full dose of nutrients with drip irrigation in enhancing water productivity and water use efficiency. Compared to water spray, bunch spray with sulphate of potash @ 2 per cent was on par with foliar application of 19-19-19 @ 0.50 per cent in increasing water productivity and water use efficiency. A reduction in total water requirement to the tune of 44 and 26 per cent was obtained in drip irrigation compared to basin irrigation in both the years respectively. A considerable saving of 72.60 per cent in irrigation water was also noticed in drip irrigation treatments compared to basin irrigation.