Devising effective strategies to retard the negative impacts of extreme climatic events on water security in general and environmental water balance in specific is imperative, especially in semi-arid rural-Western-India, where climate change has markedly increased water scarcity in domestic and agricultural sectors. This exploratory research thus aimed at investigating the water budget against mismanagement of available water resources for remote-marginalized villages in rural-Nashik (West-India). Investigation entailed visual interpretation of LULC analysis (2008-2017) using fine-scale Google Earth imageries, rainfall-runoff analysis using SCS-CN method, determining the supply-demand potential of water storage structures using field-experimentations and PRA tools, and estimation of season-wise water-budget using hydrological (water-balance) equations. Results identified agriculture as the major land-use (similar to 78%) followed by hilly regions (similar to 16%) and water bodies (similar to 3%). Surface runoff was found as the dominating hydrological phenomenon (33-89% of monsoonal rainfall) followed by surface storage (6-36% of annual rainfall) and groundwater flow (4-82% of annual rainfall). Deforestation over hills for firewood, which reduced forest cover by 52%, was observed as the primary concern for soil erosion, thereby siltation of water bodies and higher runoff against percolation. Erratic rainfall patterns (departure range - 42 to 83% during 1998-2017) coupled with sub-graded irrigational systems confined the agricultural practices to one season [South-West monsoon (June-September)]. High unmet drinking water demand (73% to 98%) forced women communities to fetch water by walking 4.5 +/- 1.5 km. Considering the urgent response to collectively combat water-budget imbalance, integrated water security plans were proposed using decentralized participatory watershed development approaches.