The Economic Cost Of Road Accidents In India Is 39 Billion Dollars: Bosch

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The Logical Indian Crew

The Economic Cost Of Road Accidents In India Is 39 Billion Dollars: Bosch

According to the study, the total socio-economic cost due to road traffic accidents in India is between USD 15.71-38.81 billion, which is estimated to be approximately 0.55-1.35% of the country's GDP.

In 2019, 151 thousand people in India lost their lives due to road accidents. The country had reported a total of 4,37,396 road accident cases in 2019, which was less than that of 2018 (4,45,396). However, there was an increase of 1.3 per cent in road accident facilities from 2018 to 2019. Every day, 1214 road accidents occur in India. 25 per cent of road crashes is accounted for by two-wheelers. As per the official data, nearly 20 children below the age of 14 succumb to road accidents every day while there is one death every four minutes due to a road-related accident. Delhi stands at the top with the most number of deaths in road accidents in the country.

According to the Road Accident Sampling System of India (RASSI), nearly 781,668 vehicles were involved in a crash. Meanwhile, the damage amounted to USD 0.57-1.81 billion it stated and the amount is estimated to be 0.55-1.35 per cent of the National GDP.

Some Eyecatching Numbers

The damage costs include USD 356.2 mn for commercial vehicles, USD 69.8 mn for cars, USD18.7 mn for two-wheelers, and USD 39.6 mn for buses. In 2019, the total medical cost of road traffic accidents victims was close to USD 0.82–1.92 bn. In the same year, the total productivity loss due to male fatalities was USD 10.9 bn, and female fatalities were USD 1.44 bn (while considering average Net National income per capita for male and female employees).

Total productivity loss in the year 2019 owing to severe injuries accounted for USD 123 mn, while minor injuries accounted for USD 14 mn, according to reports in APN News.

As per the World Health Organisation (WHO), only 28 countries - representing 449 million people - have adequate laws that address all five risk factors (speed, drunk driving, helmets, seat - belts and child restraints).

The African countries are highly prone to road accident fatalities with 26.6 per 1,00,000 population due to poor road infrastructure and lack of adequate road safety rules. At the same time, the European region suffers the least road accident fatalities at 9.3 per 1,00,000 population.

Also Read: Maharashtra State Transport Corporation Hikes Bus Fare By 17.7%

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Writer : Shweta Singh
Editor : Snehadri Sarkar
Creatives : Snehadri Sarkar

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