It is one idea being floated by a group of regional water managers to deal with a soaring population and climatic shifts, including central Victorian councils, water groups and Indigenous leaders.

They have noticed a 53 per cent drop in long-term stream flows into the storages at the upper end of the Coliban region since 1996.

The area quenches the thirst of 200,000 people and counting and business as usual will not work, the group, known as the Coliban Integrated Water Management Forum, said.

"Some of Coliban Water's urban-water supply systems are forecast to have a shortfall in the next 50 years," the group said.

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The comments were made in a new strategic directions document the Coliban Forum has drafted.

It has discussed a range of projects including Coliban Water's hopes to write up a business case to deliberately pump 15 gigalitres of water underground.

The water could later be used on parks and other public areas in Greater Bendigo during dry spells.

It could also boost environmental flows on the Campaspe River and help out people who use bores in the lower Loddon Campaspe Valley.

The idea has already been tested out by Victorian water managers.

Their feasibility study shortlisted 16 sites that could be used in the Coliban area.

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The Coliban Forum of stakeholders has flagged a host of ideas to try to keep ahead of droughts and make sure water is free for cultural and environmental uses.

That could potentially include talks on returning a hydroelectric plant to Lake Eppalock and projects for Echuca, Trentham and Castlemaine.

It could also involve new focuses on water efficient buildings and streets.

Bendigo's council is expected to consider giving its endorsement to the draft when it meets on Monday.

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