All of us have always known that road accidents and the deaths or injuries arising out of them have a deep, life long affect on the victims. However, we have never really had a number to measure just how much they tend to affect people’s lives; but that’s changed, thanks to the Ministry of Road Transport and Highways. The ministry recently commissioned a new study, which made some horrifying discoveries. The study found that average socio-economic cost of every death due to a road accident in 2018 in the country was roughly ₹91 lakh. And as for every victim that sustained griveous injuries in road accidents in India, the cost is about ₹3.6 lakh.
According to the government’s report on fatalities and injuries arising out of road accidents, 1.51 lakh people were killed and 4.69 lakh were injured in 2018. Based on that number, the study, executed by TRIPP from IIT Delhi and DIMTS, estimates an impact of ₹1.47 lakh crore. But given that road accident deaths and injuries are typically under-reported, the study projected a loss of about ₹5.9 lakh crore. That is 3.1 per cent of India’s GDP.
The study offered three different estimates of the socio-economic impact under three scenarios. The third estimate, which is based on the Global Burden of Disease (GDB) Study, pegs the socio-economic impact at about ₹8.63 lakh crore.
The estimates are said to include medical expenses; loss of income a.k.a. lost output cost; pain, grief, and suffering; damage to vehicle; public asset; and administrative costs. A TOI report notes that lost output cost takes the lion’s share in the maths for the socio-economic impact of road accident deaths. The study estimates the lost output cost at roughly ₹74 lakh per person. However, in case of serious injuries, over 50 per cent of the cost’s share is for medical expenses.
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