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In India, Inter-state water disputes are characterized by complexity and resentment for the reason that these disputes get entangled in party politics. These are complex because of the unfriendly relationship between Centre and the federal units. The Mahanadi River water conflict started owing to the shortage of water in the middle or tail part of the river due to the privatization of the water on one hand and the continuation of the major dam projects in the upper part of the river. The privatization of the water of the Mahanadi River is the main cause of the conflicts between Odisha and Chhattisgarh. To invite more investment from the water of the Mahanadi River, both Odisha and Chhattisgarh have committed themselves to diverting water to industry and its various sectors. This diversion of water leads to the shortage of flow of water to the lower part of the river. In addition to this, in the continuation of the dams projects carried out by Chhattisgarh, Odisha is severely affected in terms of water shortage to fulfill the local agricultural demand and make available as natural resources for the people of Odisha. This issue is not confined to the industrial sector and developmental side. In contrast to this, the second area of issue is the politicization of the water by the political leaders and its ruling parties. The Mahanadi River water conflicts largely demonstrate a ‘Political Game’ from which the political actors gain political mileage one way or other way. The political leaders of the disputant states also used the Mahanadi water issue to demand vote banks and to strengthen the political constituencies. So as to save the water of the Mahanadi River from Privatization and Politicization, the water activists started ‘Mahanadi Bachao Andolan’ in staging silent ‘Jal Satyagraha’ over the Mahanadi River Water Dispute. Now, the river loses its original character by reason of continual interventions in the form of dams and barrages by the upper riparian state. This research paper tries to put an inquiry into the amalgamation of ‘politics, power, and privatization’ in the Mahanadi River water dispute between Odisha & Chhattisgarh. This paper also offers some possible points to resolve the disputes in a constitutional framework. Along with this, ecological revitalization of the river is the prime need of the hour to save the life of the River.