The Plan panel on Sunday said the government is likely to come out with a new water policy within 3-4 months to tackle scarcity of the natural resource, and may levy new charges on consumers for sewerage treatment.

It also said that water needs to be priced "reasonably" to check its wastage.

"We are currently working with the ministry of water resources on a new water policy... The policy is expected in the next three-four months," Planning Commission Deputy Chairman Montek Singh Ahluwalia said at the India Economic Summit, organised by World Economic Forum and CII.

He said the new policy would look to adopt a completely new approach, which would include not only the usage charge but also the treatment charge for sewerage from consumers.

Ahluwalia said the Group of Ministers (GoM), headed by Agriculture Minister Sharad Pawar, has been working on the new water policy, with department of water resources providing its input.

"We are on our own working towards on what should be the key element of the policy in the 12th plan and it will adopt a completely different approach," Ahluwalia said.

"In my view water should be reasonably priced. In most part of the country it is not reasonably priced leading to a wasteful use of water," he added.

He said the new policy will look to address problems faced by women in rural areas as they are the ones most burdened because of water scarcity and the government would give priority on schemes that deliver water in rural areas.

In July, the water resources ministry had initiated a review process of the National Water Policy 2002 in order to address issues like ground water development, promotion of rainwater harvesting and prevention of over-exploitation of water by industry and agriculture.