Almost 12 to 13 % of GDP lost annually due to natural calamities: NDMA
Almost 12 to 13 % of GDP lost annually due to natural calamities: NDMA
The National Disaster Management Authority(NDMA) today said that almost 12 to 13 percent of GDP is lost annually due to natural calamities in the developing countries.
Addressing a seminar in New Delhi, the vice chairman of NDMA General N C Vij said that the increase in growth rate is wiped off by the disasters and therefore there is an urgent need for improving early warning systems and positioning of trained and equipped forces to deal with such disasters.
Also speaking on the occasion, Chairman of Insurance Regulatory and Development Authority(IRDA) Mr. J. Harinarayan said insurance policies should focus on rehabilitation and restoration process after the natural calamity.
Accepting that the insurance implementation mechanism is not strong enough he added that the policies should be tailor made for economically weaker segments as they are worst affected by such disasters.
