Shocking! Mumbai has faced a loss of ₹14,000 crore in the last 10 years due to this reason

A study conducted by the United States Trade and Development Agency (USTDA) and leading accounting company KPMG showed that the metropolitan city had suffered losses worth ₹14,000 crore between 2005 and 2015

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A study by the United States Trade and Development Agency (USTDA) and leading accounting company KPMG recently revealed that Mumbai suffered a loss worth ₹14,000 crore due to floods. The whopping amount was lost for various reasons in the period between 2005 and 2015.

The agencies from the US that were hired to study the floods in the city, that not only disrupt the lives of the citizens but also wreak havoc on the city every year, also revealed that 3,000 people died due to rain-related incidents during this period.

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The number of deceased also includes over thousand people that fell prey to the vicious July 26, 2005 floods that brought the city to a standstill.

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In March 2019, the state's Relief and Rehabilitation Department commissioned the study in which it was discovered that 'major infrastructure development rarely takes into account the level of hazard'. The study further revealed that the areas that are vulnerable and prone to disasters are seldom identified.

In the meantime, this is the first time the losses suffered by the city due to rainfall throughout the monsoon has been recorded and quantified.

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