i remember studying this issue at school and concluding it was actually deregulation by stealth, amd would probably lead to exactly the opposite outcome of the one that advocates desire.

http://dghjdfsghkrdghdgja.appspot.com/thoughts/essays/standingtrees.html 

that said, rivers in india are kind of a special case because of the centrality of them to the culture. i remain skeptical. but, it's perhaps the best possible test case, too; if it's going to work anywhere, it's most likely to work in a culture that views the river as sacred.

that said, look at how filthy the river is in the picture. it's the first thing that is obvious.

https://www.thestar.com/news/world/2017/03/21/india-court-grants-ganges-yamuna-rivers-same-rights-as-a-human.html