Summary

Water security forms the basis for achieving multi-dimensional poverty alleviation. Water security is necessary for moving toward sustainable development. It reduces poverty and improves quality of life. Achieving water security is increasingly becoming a policy challenge in most of the developing countries like India. Water security is a comprehensive concept that comprises access to quantity and quality for different users and uses, ensuring environmental, economic, and social sustainability in the long run. It needs to be achieved at different scales (i.e., household, regional, and national levels). This calls for an integrated approach incorporating hydrological, socioeconomic, and ecosystem aspects. Water resources accounting is critical for ensuring water security. Resource accounting helps in identifying efficient and optimum allocation of resources to various components of water security. Integrating the costs of strengthening the natural resource base and environmental externalities is likely to help sustaining services in the long run. Integrating the economics of protecting the natural resource base into the planning and designing of service delivery is critical in this regard.