Lost: 2.5 cr man hours, Rs 100 cr
When the city floods, businesses are hit. Loss of man hours, cancelled or delayed flights and goods destroyed — India’s financial capital incurs losses worth thousands of crores of rupees in just one day of heavy rain.india Updated: Jul 17, 2009 01:56 IST
When the city floods, businesses are hit.
Loss of man hours, cancelled or delayed flights and goods destroyed — India’s financial capital incurs losses worth thousands of crores of rupees in just one day of heavy rain.
Tuesday was no exception.
Most corporate houses suffered because employees couldn’t come to work. The combined man-hour loss on that one day was 2.5 crore hours, that is if each employee present worked for five hours on an average.
Of the city’s 80 lakh working population, 50 lakh are employed in the private sector.
Industry insiders said that the corporate sector lost over Rs 100 crore on Tuesday alone.
The city’s business community is angry as the Brihanmumbai Municipal Corporation (BMC) once again failed to deliver.
“How much time can we waste on roads in a small size city like Mumbai. On Tuesday, it took me two hours to reach Four Seasons hotel in Worli from Colaba,” said Anil Singhvi, vice-chairman, Reliance Natural Resources Ltd.
“There was waterlogging everywhere and this was due to improper planning. It is a frustrating that we are not learning from the past,” he added. “I am worried for the common man who suffered more because he had no alternative but to stay in inhuman conditions in a city that has far superior economic activity than any other place.”
Then there is also the problem of goods getting damaged due to seepage of water into storage areas and delivery vans getting stuck on inundated roads.
“Some of our people could not go home at night and remained absent the next day. This severely affected our work schedule,” said Kiran Nanda, director, Economic Research & Training Foundation, Indian Merchants’ Chamber.
Even retailers were badly hit.
“Business was down 50 per cent. People did not come to shop and most of the staff too didn’t turn up. Is this why we pay taxes?” asked Viren Shah, president, Federation of Retailer Traders’ Welfare Association.
“The municipal corporation has failed. The unplanned constructions and improper planning is adding more burden on the infrastructure. It must stop,” Shah added.
There are five lakh shops in the city, including restaurants.
If each shop has an average daily turnover of Rs 3,000, what will be the total combined loss incurred on Tuesday? Do the math.