Issues and options for sustainable development of water resource and use in India
The paper highlights and raises concern over issue of over-exploitation of groundwater resources in India, arising due to stress induced by growth in population and economic activity. The role of market and non-market interventions is analyzed to achieve a sustainable development of water resources, in particular groundwater resources. It is emphasized that the existing energy pricing structure portrays groundwater more as a social good and undermines the real economic value that needs to be attached to it. In view of the market and policy failures in overcoming the phenomenon of water scarcity, the role of institutions is reviewed in detail. Since efforts at the international level as initiated by the World Commission on Environment and Development, the UN Conference and the National Water Policy are largely in the nature of involving stakeholders in the conservation of water resources, the paper highlights the importance of evolving an appropriate participatory model of water resource management. The paper finally explores possible areas of research.