Economic loss of road accidents in India estimated at 3% of GDP

by Autocar Pro News Desk , 08 Jun 2015


Other than the massive loss of human life (137,423 deaths in 2013) and injuries in road accidents (469,882 injured in 2013) in India, there is a resultant economic loss to the country.

The SaveLife Foundation, a Delhi-based, independent, non-profit organisation working to improve road safety and emergency care across India, has said that the Planning Commission in a 2014 report had estimated that the annual cost of road crashes in India could be around 3% of GDP.

According to the data released by the Central Statistical Organisation, the GDP for 2014-15 was Rs 126 lakh crore. Thus, the cost of road crashes would have amounted to Rs 3.8 lakh crore. Compared to Budget 2015, the cost of road crashes amounts to one-fifth of the Budget.

The table below compares the cost of road crashes with the monetary allocation of certain important ministries:

road-crashes-economic-loss

Data source: SaveLife Foundation
Photographs: Subhash Simhudu

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