Lots of zeal and money
The 2001 earthquake in Gujarat was among the costliest disasters in independent India. As per World Bank reports, the calamity is estimated to have caused losses of us $4.9 billion in terms of output. Adding the losses suffered by the informal sector can easily double this figure. Moreover, the state exchequer has been burdened with a huge fiscal deficit of us $2.2 billion in the three years since the calamity.
Recovery has, however, been rapid. This has been helped in good measure by generous aid from international institutions and non-governmental organisations (ngos). The World Bank alone has put up us $257 million in the first phase of recovery, ending March 2003. This sum is meant for rehabilitation and reconstruction purposes. The Bank has also lent us $442 million for long-term recovery from the calamity