Deepor Beel has both biological and environmental importance besides being the only major storm water storage basin for Guwahati city. The lake apart from being a natural habitat for a variety of Flora and Fauna also provides a shelter for many protected endangered species. It is considered as one of the staging sites for migratory birds in India; and some of the large congregations of aquatic birds in Assam during winter.
The Dipor Bil is reported to provide, directly or indirectly, its natural resources for the livelihood of fourteen indigenous villages (1,200 families) located in its precincts. Freshwater fish is a vital protein and source of income for these communities; the health of these people is stated to be directly dependent on the health of this wetland ecosystem. They also use the bil as a waterway for transporting the villagers of the southern boundary to the N.H. 37; to collect fodder for domestic cattle and collect aquatic seeds such as giant water lily, Nymphea, etc. and to raise boro paddy.