Correct Option
The correct option is (c).
Explanation
In economics, land and water resources are classified under Factors of Production. Groundwater is a critical natural capital essential for agricultural production. While it is a renewable resource, its renewal cycle is slow, making it susceptible to depletion if extraction rates exceed recharge rates, thereby impacting sustainable development.
Statement-wise Analysis
- Statement 1 is Incorrect: Groundwater recharge is a slow hydrological process that occurs through the percolation of rainwater through soil and rock layers. It cannot be replenished "instantly" with a single rainfall; significant recharge often requires sustained precipitation over time and proper soil conditions.
- Statement 2 is Correct: The depletion of the water table can lead to long-term environmental damage, such as the drying up of aquifers, land subsidence, and saltwater intrusion in coastal areas. Once an aquifer is severely depleted or physically compromised (e.g., through compaction), it is extremely difficult, expensive, and time-consuming to restore it to its original state.
- Statement 3 is Correct: Agriculture is the largest consumer of groundwater in many economies. Over-exploitation leads to a falling water table, increasing the cost of extraction and eventually making water unavailable. This directly threatens the long-term viability and sustainability of agricultural production and food security.
Key Takeaway
Groundwater is a critical factor of production that, while renewable, requires careful management. Its over-exploitation leads to irreversible depletion, threatening the sustainability of agriculture and long-term economic stability.