Lately very few regions have managed to escape the wrath of mother nature. In recent times the number of natural disasters are increasing. The economic losses from these calamities have been impressive: Since 1989, insurance agencies have paid out more than $44 billion in damages caused due to tsunamis, earthquakes, tornados, floods, droughts, etc. Altogether these calamities have led to huge economic losses in terms of lost wages and output, destruction of public and private property, and loss of hundreds of lives

The nature of these natural disasters can vary in nature. Some natural disasters like tornados, hurricanes and earthquakes occur only for a short period of time — for a couple of hours but cause substantial damage to life and property while other natural disasters likes floods and droughts occur for longer periods of times — few days and sometimes even months. However any kind of calamity can leave an economic imprint for years. Natural calamities disrupt both local economy and sometimes even national economies. But estimating the net losses of these disasters can be an onerous task. It depends on magnitude and extent of the natural calamity, the strength of the local economy, the population
The organization must bring together all the support required for the project and align the resources needed to start the project. Firstly identification of the community’s economic assets is needed. An inventory of the current assets helps the community to determine how many resources need to be harnessed during a disaster. Information for this effort is available in strategic places and with the help of economic analysis. The assessment should include a strong understanding of demographics, labour force, characteristics of workforce, strengths and weaknesses analysis and local