Kerala flood fury: Wage loss pegged at Rs 4,000 crore

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Kochi | Published: August 22, 2018 4:51:16 AM

Incessant rains and floods that have ravaged Kerala since the beginning of August could set the economy back by thousands of crores in wage and trade losses.

kerala floods, kerala, floodThe plantation sector, tourism, seafood, logistics and industries have been impacted in the massive flooding and the real cost would only be known later.

Incessant rains and floods that have ravaged Kerala since the beginning of August could set the economy back by thousands of crores in wage and trade losses. The plantation sector, tourism, seafood, logistics and industries have been impacted in the massive flooding and the real cost would only be known later.

The five worst-affected of the state’s 14 districts, Idduki, Ernakulam, Kollam, Kottayam and Pathanamthitta, have an estimated population of 11.09 million, which accounts for nearly 30% of the state’s total population, reports rating agency CARE.

“We estimate that the employment of nearly 4.13 million individuals of these districts have been affected on account of the deluge and the resultant disruptions. Around 3.3 million workers would have their employment in jeopardy. We estimate a wage loss of around `4,000 crore for the month of August,” CARE sources report.

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