I feel that this problem is going to be even more dangerous than extreme poverty for India. You can counter poverty with high economic growth but you can fill ground water level. New York has published an alarming report about this problem: India Digs Deeper, but Wells Are Drying Up, and a Farming Crisis Looms. By reading the report, you can understand the severity of the problem.
Most people in rural India depend on farming for their livelihood. If ground water drops below reach then it will have devastating consequences for Indian farmers. However, not too many people are concerned about the problem. Not even the Indian government and the Indian media.
