FM discusses issues of damage caused by cyclone Michaung with TN industry

PTI, Dec 14, 2023, 9:00 AM IST

Union Finance Minister Nirmala Sitharaman on Wednesday met the representatives of micro, small and medium enterprises from Tamil Nadu who were affected by cyclone Michaung last week.

During her brief interaction, Sitharaman assured the delegation that all necessary steps would be taken to ensure speedy disbursal of eligible insurance claims, the government said.

Cyclone Michaung which crossed the Eastern Coast last week caused havoc in Chennai and neighbouring districts disrupting normal life. Micro, small and medium enterprises have been badly hit due to heavy rainfall.

”A delegation of the Ambattur Industrial Estate Manufacturing Association met Union Finance Minister Nirmala Sitharaman and officials of Department of Financial Services India today in New Delhi regarding the losses suffered by the industry due to the recent cyclone,” the Finance Ministry said. Public sector general insurance companies have been instructed to deploy more surveyors immediately, the Ministry said in a social media post. A special camp for a smoother and processing of claims would also be organised, it said.

”The Union Finance Minister assured the delegation that the Central Government will take all necessary steps to ensure speedy disbursal of eligible insurance claims,” it added.

Industry representatives during their recent interaction with the state government officials had informed them that the damage caused by the cyclone was expected to be over Rs 2,000 crore.