- Disaster loss from 2001 to now at current prices Rs 13 lakh crore
- Between 1991 and 2021, disasters covered only eight percent of the total loss in the country.
New Delhi. With the increasing incidence and severity of natural disasters, a report has called for the creation of a national disaster cluster in India, as India is one of the most disaster-prone countries in the world. India ranks third after the United States and China in terms of the number of natural disasters that have occurred since 1900. There have been 756 natural calamities in India since 1900, such as landslides, hurricanes, cyclones, earthquakes, floods, droughts, etc. . During 1900-2000 there were 402 disasters and during 2001-2021 there were 354 disasters. State Bank of India (SBI) in a report on Friday said that a total of 100 million people have been affected since 2001 and around 83,000 people have lost their lives due to these calamities. If we look at the loss at current prices, the loss amounts to Rs 13 lakh crore or six percent of GDP. Between 1991 and 2021, only eight percent of total losses in the country were covered, so there is a protection gap of around 92 percent during this period.
SBI Group chief economic adviser Soumya Kanti Ghosh said in the report that early intervention is required to close the security gap. The public-private solution by creating a national disaster group is the only way to avoid the risks of natural disasters. In the report, he said that the total economic loss from the 2020 floods was $ 7.5 billion, or 52.5 billion rupees, but the insurance was only 11 percent. He said that if the government had insured it, the premium for the insured sum of Rs 60 billion would have been just Rs 13-15 billion. Natural disasters cause huge economic losses in addition to human losses. “Since 1900, we have suffered an economic loss of $ 144 billion. Floods caused the most damage at $ 86.8 billion, followed by hurricanes at $ 44.7 billion. If these losses are adjusted with current prices , the loss is approximately USD 87 billion or Rs 13 lakh crore Damage data is available for only 193 incidents in the country and there are many problems with the existing estimation method.