Water for Inclusive Economic Growth

Water Resources have profound impact on the growth of agricultural based economies. Effective management of water helps a sustainable development in terms of agriculture, industry, ecosystem and community development etc. Better access to clean water, sanitation services and availability of water for livelihood creates tremendous opportunity for the rural population to develop and is a progressive strategy for economic growth.

A country's overall development strategy and macro-economic policies-including fiscal, monetary, trade policies directly and indirectly affect demand and investment in water related activities which has a greater impact on the country's Gross Domestic Product (GDP). Water is not only life-generating and life-sustaining, but also impacts hugely on the economic status and growth of every region. Water is closely tied to economic and job growth, especially in rural areas. Thus, we need not just save water for the sake of our own drinking purposes, but we also need to look after the quantity and quality of the water as a means of driving job and economic growth; currently three out of four jobs globally are tied to the water or dependent on it in some way or the other. Rural development is both the means and end for economic development of a country like India. There are many models of economic development. But most of the models end up creating disparity among the people rather than equitable distribution of income. A model which has inbuilt component of making more water available to rural areas or for the agriculture sector has more potential of creating inclusive growth. Equitable economic growth will not be possible unless the challenges in water resources development & management are taken on board. Even though there are many issues for increasing public and private investments in water supply, sanitation and water resources management, the obstructions are pale in comparison to the economic and social difference that such investments will make to poor people and to the entire economy. Managing water as a tool for economic growth is an important way of achieving efficient and equitable use, and for encouraging conservation and protection of water resources.

The paper focuses especially how water and rural development are interconnected; its impact on rural population; reducing the social disparity; employment generation etc. The paper also emphasizes that enhancing water availability does have multiplier effect on the socio-economic development of the region particularly of the rural areas. The paper also gives insight how inclusive growth is linked to water availability; the impact of water availability in rural economy. It enumerates the ways and means of enhancing water availability for rural development. The paper also brings out the close link between water, social and economic development in rural areas through success stories