According to the IMD, the rainy conditions in Delhi (along with other areas of NCR) will persist till August 5.
The streets of Delhi are underwater yet again, bringing the capital city to a standstill. Thanks to an onslaught of continuous heavy rains for the past few days, especially on Wednesday, there's a 'red alert' issued by the India Meteorological Department (IMD) in most parts of the city. And it has disrupted daily life severely, with schools remaining closed for today and flights getting either delayed or canceled. Additionally, there are reports of casualties as well.
#WATCH | Traffic jam witnessed in ITO area of Delhi after rain lashed the city. pic.twitter.com/toJg5NUWch
— ANI (@ANI) July 31, 2024
Credit: ANI
The flood-like situation is likely to persist in Delhi for the next few days. And you know what's the worst part of all these beyond the inconveniences in daily life? It is the disastrous consequences on the local economy that affect various businesses, small or big.
The local vendors (especially street food sellers) in Delhi are the most vulnerable to these flood-like situations. As the city comes to a standstill, these vendors face a reduced customer footfall, and consequently, a huge drop in their daily earnings. Moreover, both their stalls and products often get destroyed in these calamities.
For centuries, the areas surrounding the River Yamuna have been the trading hub of Delhi. Due to severe floods every monsoon, the businesses here suffer from a massive loss - reportedly over hundreds of crores in total.
Delhi is a concrete jungle, packed with lots of residential houses, offices (both government and private), historic buildings, shops, and more. And property damage is a major consequence of these flood-like situations every monsoon. For instance, a house in North Delhi's Sabji Mandi area collapsed on Wednesday due to heavy rains. Also, there have been reports of structural damage to numerous buildings, roads, and bridges across the city.
The property damage during floods leads to quite a huge cost for repair works. The Delhi government spends crores every year on repairing public properties, and on the other hand, it causes massive revenue losses for business (both small and large-scale) owners. However, middle-class individuals suffer from the biggest financial burden due to this.
Due to the recent heavy rainfall, the streets in Delhi are waterlogged, affecting the overall transportation system severely. There's massive traffic congestion in most parts of the city, resulting in an unprecedented financial loss in almost all sectors. It brings logistics to a standstill and disrupts the overall supply chain. Also, daily commuters find it difficult to reach their workplace on time.
According to some reports, all the markets in Delhi are currently seeing a major drop in footfall due to the weak transportation system. Needless to say, the daily wagers are suffering the most for this.
Last year, the businesses in Delhi suffered from an estimated loss of ₹200 crores due to floods. While there's no data available yet, the situation this year is equally worrisome for sure! Let's hope the city comes back to life soon!
