Economic loss due to floods estimated to be up to Rs 15,000 crore: SBI Ecowrap
Floods have caused widespread devastation across the country, especially in states like Himachal Pradesh and Uttarakhand. The economic loss of the floods is estimated to be in the range of Rs 10,000-15,000 crore, as per SBI’s research report, Ecowrap. The report stated that the heavy toll of these floods, as well as natural disasters such as the recent Biparjoy cyclone, is a matter of grave concern for the country. It added that locational and geographical features make the country vulnerable to a number of natural hazards.
“While the current status of economic loss due to these floods is yet to be estimated, we believe this in the range of Rs 10,000-15,000 crore,” the report mentioned.