The study is an attempt to examine the relative efficiency of indigenous labour intensive devices vis-a-vis imported mechanized techniques regarding small scale irrigation in Bangladesh. Three indices, viz., the cost effectiveness criterion, the benefit-cost (B/C) ratio and the internal rate of return (IRR) have been used; each index has been estimated both at market prices and at shadow prices. Heavy subsidy on the mechanized techniques makes them cost advantageous over the indigenous devices. But the financial cost estimation without subsidy as well as the economic cost estimation shows the reverse situation. All irrigation devices are found to be quite desirable and worthy, as reflected by the B/C ratio. However, the indigenous devices seem to be more profitable than the mechanized techniques to an individual as well as to the society. Government objectives in terms of increasing irrigation coverage, the expansion of employment opportunity and the reduction of income inequality can, to a great extent be facilitated through the reduction/removal of subsidy from the mechanized techniques.