India invests $300m over 2 years to expand water bodies and build drains in 7 cities for flood control and water conservation.

India plans to invest $300 million over 2 years to expand water bodies and build drains in 7 cities, including Mumbai, Chennai, and Bengaluru, aiming to mitigate floods and conserve water. This marks the first government spending on water bodies for flood control. The plan includes early warning systems and integrating storm water drainage with nature-based solutions, such as enhancing the capacity of rivers and lakes to manage rainwater. The investment also addresses concerns that India's growing water stress could hamper its economic growth, as Moody's warned it might impact the projected 7.2% growth for the current fiscal year.

August 21, 2024
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