15,000 crore financial loss to Chennai

Dec 3rd, 2015 Business, Critical, Featured slider, Finance, General awareness, Goverment, India, Money, Public issues, weather lalit@mkwebtech.com

15,000 crore financial loss to Chennai due to rain

New Delhi,3 December: Tamil Nadu’s capital Chennai wore a devastated look.City took a major beating as fresh downpours worsened an already disastrous flood situation, posing danger to thousands of people in low-lying areas. An industry body said that the financial loss may exceed Rs15,000 crore .The city remained cut off from the rest of the country. Chennai airport has been shut till December 6 and more than 50 trains cancelled. The nearby naval air station at Arakonnam is likely to be turned into a makeshift airport for commercial flights from today. Situation is so bad that automobile majors Hyundai, Ford and Renault have temporarily suspended operations at their plants in Chennai. Most of the offices in the city, including that of IT companies, remained closed due to heavy rain with leading firm Infosys deciding to remain closed on Thursday as well due to flooding at its premise. However, IT companies said they have invoked alternative measures to ensure there is no impact on critical services. To make things harder, power supply has been disconnected in all the suburbs following 15 deaths due to electrocution in the city during the last ten days. The deaths took place after people came in contact with live wires hidden from view by the muddy flood water.chennai3

Milk, food and medicines have become impossible to procure with most shops submerged and this has added to woes of the populace. Due to unprecedented rain The financial loss may exceed Rs15,000 crore, the Associated Chambers of Commerce and Industry of India said, while the State Government put the total loss at Rs8,481 crore.The Government said 72,119 people were housed in 432 relief camps, but thousands of passengers were still stranded at the Chennai airport and railway stations. Given the alarming situation, Prime Minister Narendra took stock of the problems being faced by Tamil Nadu and discussed it with his Cabinet colleagues, including the Home and Finance Minister.The National Crisis Management Committee (NCMC), headed by Cabinet Secretary PK Sinha reviewed the situation in a series of meetings to chalk out strategies to deliver all sort of assistance to the Tamil Nadu Government. The Army has deployed nearly 500 soldiers for rescue and relief efforts in Chennai while the Navy has dispatched one of its amphibious carriers INS Airavat from Visakhapatnam to Chennai. Expected to reach there on Thursday morning, the ship is carrying 20 divers and swimmers, 15 boats, doctors and medicines. The Navy has also deployed unmanned aerial vehicles (UAV) for real time monitoring of the situation while the IAF has pressed two C-17 big transport aircraft and three medium lift C-130Js to carry the National Disaster Relief Force (NDRF) besides relief material to the flood-ravaged city from all over the country.

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In the first two days of the rescue operations, the Army has saved more than 2,400 people including some patients from a flooded hospital in Chennai and ferried them to safety. Moreover, more than 20 Army trucks are ferrying relief material to affected areas and Army engineers are working overtime to restore mobile phone connectivity by repairing towers. Telephone and mobile services had gone bust since Tuesday evening and Chennai airport has been closed since Tuesday morning. Helicopters belonging to the Indian Air Force dropped food packets and water sachets to people stranded in Tambaram and Velachery for the last three days. Since social networking sites had given advance warning of the impending downpour most households had stocked essential items for three to four days. With the Public Works Department and Metro water deciding to open shutters of the Chembarambakkam and Poondi reservoirs which started overflowing, the Adyar and Cooum rivers got flooded. The Mount-Poonamallee Road which links Chennai to Sriperumbudur, Kanchipuram, Vellore and Bengaluru got submerged in water following the overflowing of the Porur Lake.

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