What financial impact do disasters have on Indian states according to a study by IIT Bombay
A study by IIT Bombay on the financial impact of disasters on Indian states highlights the following points:
- Disasters lead to significant economic losses for states, with damage to infrastructure, agriculture, and industries resulting in financial strain.
- States are forced to divert funds from development projects to disaster response and recovery efforts, impacting overall economic growth.
- Disasters often lead to increased poverty, unemployment, and loss of livelihoods, further exacerbating the economic challenges faced by states.
- The study emphasizes the importance of implementing effective disaster management strategies and investing in risk reduction measures to minimize the financial impact of disasters on Indian states.
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3 months ago