The banking and IT sectors complained in a letter to Chief Minister Basavaraj Bommai that the August 30 flood that brought portions of Bengaluru to their knees caused a loss of approximately 225 crore on a single day and drawn attention to the “appalling infrastructure” of the city.
According to a letter the Outer Ring Road Companies Association sent to chief minister Basavaraj Bommai, Bengaluru IT companies lost 225 crore rupees on August 30 as a result of their employees being detained in traffic for about five hours. They said in the letter that the ORR’s inadequate infrastructure has now reached a crisis point. According to them, ORR IT is the largest tax payer and earns annual revenue of USD 22 billion, or 32% of Bengaluru’s annual revenue. “It is estimated that over a half a million people are employed on the Outer Ring Road stretch, starting from Krishnarajapuram to the Central Silk Board area in Bengaluru. The 17 km stretch is also providing direct and indirect employment to over a million people and has a great contribution to the economy of the state. It is appalling that there is no focus on the development of infrastructure in this particular area. The recent collapse of Bengaluru’s infrastructure is now a global concern and is also questions the growth of the city,” it stated.
The association is been worried that, if nothing changes, the businesses may look for another location. Earlier, Bengaluru’s Chief Minister Basavaraj Bommai paid a visit to the flood-affected districts on the city’s outer ring road and pledged to address any municipal problems as quickly as possible. He has even commanded the authorities to demolish buildings and encroachments that are obstructing the city’s storm water drains.