Maharashtra floods: Loss estimated at Rs 5-10,000 crore
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Maharashtra floods: Loss estimated at Rs 5-10,000 crore

By Dna calender  09-Aug-2019

Maharashtra floods: Loss estimated at Rs 5-10,000 crore

A preliminary assessment by industry bodies and political parties from Sangli and Kolhapur have estimated a loss of at least Rs 10,000 crore due to floods following the closure of industries, production of milk other products, severe damage of crops mainly sugarcane, automobile and allied sectors. They have said the loss may increase after proper assessment to be carried after the water level recedes.
Sources at the Federation of Cooperative Sugar Factories in Maharashtra informed that 2.50 lakh hectare is under sugarcane cultivation in Sangli and Kolhapur districts. There are more than 45 sugar factories and they can crush 216.15 lakh tonnes of sugarcane. ''However, the preliminary assessment shows that almost entire standing crop in flood-hit areas is heavily damaged. There will be less sugarcane availability in the coming season. Besides, the majority of the factories have already paid an advance of Rs 5 lakh each to the sugarcane cutting labourers from the Marathwada region. They will lose the money,'' sources added. Western Maharashtra is facing the worst flood since 2005. Over 2 lakh displaced and 27 lost lives in 5 districts so far. Sangli and Kolhapur are worst hit.

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