A report from the credit and fund risk evaluation consultancy, Moody’s, says that increasing water shortages are capable of triggering social unrest in India. Besides, it will reflect on the country’s credit health.
The threat of water shortages, it says, are real, given the rapidly changing climate and resultant droughts and heat waves that will further exacerbate the water stress. The situation cries for immediate attention, Moody’s says. Resulting floods can disturb the water supply infrastructure.
This will have economic consequences. For instance, besides the massive loss of life, the damage to property due to the 1999 Odisha supercyclone is estimated at $10 billion, besides environmental threats. The Moody’s report suggests such economic burden due to climate change will burgeon.
Saying that water shortages will reflect in paucity of water for irrigation, the report says both, agriculture and industry will be impacted by the growing water shortage. The report evaluating environmental risks says that the water-dependent electricity sector too will be impacted.
The changing demography, what with growing urbanisation, will mean even more struggles for water, especially among the poorest.
Moody’s says that this year’s heat wave, with the temperature at times hitting 50 degrees Celsius in the country’s north will further strain water supply – a strain that is to be seen even today as water shortage in the country’s capital leading its minister (Atishi) to sit on a fast unto death.
Data from the Ministry of Water Resources suggests that the annual per capita water availability could drop to 1,367 cubic meters by 2031 from an already-low 1,486 cubic meters in 2021. (Anything below 1,700 cubic metres per capita is indicative of water stress.)
(By arrangement with owsa.in)