Water wise rice production is now a primary concern that ensures saving of considerable amount of fresh water volume as well overcoming water shortage for rice production. Several potential types of research have revealed that low water input for rice cultivation increases the productivity of water and sustains the production of rice. Several other studies have also proven the effects of water levels on the yield and yield parameters of rice plants. However, it is still necessary to update current scientific findings on low water use rice production which is related with the changes of plant and soil parameters. To date, it has been established that low water use in rice cultivation does not affect rice yield and rice parameters but saves voluminous amount of fresh water and reduces greenhouse gas emission. This review demonstrates different aspects of water use for rice cultivation and offers current updates on the changes of plant parameters and soil chemical properties. Finally, this review confirms that reducing water input from a traditional practice to water-wise rice cultivation sustains rice production without affecting plant and soil parameters.