Economic recovery
“Economic losses from the accident included loss of jobs, loss of earning capacity of victims, business disruptions, cost of compensation and rehabilitation, and legal costs. The UCIL plant, a $25 million investment, was shut down immediately after the accident, and 650 permanent jobs were lost. A few months later the Union Carbide Research and Development Center, located in another part of Bhopal, was also cut back to a skeleton staff. Local businesses and state government offices were shut down for three weeks, losing business and tax revenues. The two mass evacuations disrupted commercial activities for several weeks, with resulting business losses of $8-65 million. Loss of work in government offices was not included in these estimates (Morehouse and Subramaniam 1988; Shrivastava 1992).In the year after the accident, the government took many well-intentioned steps to provide economic relief to victims. Compensation of about $800 per fatality was paid to relatives of dead persons. Smaller cash compensation awards (less than $100) were distributed to 20,000 victims and 3,000 more victims were provided with part-time employment. New schools were also opened in the affected neighbourhoods. Unfortunately, in proportion to the tremendous relief needs these early (1985-1987) efforts were miniscule. Government relief failed to alleviate the misery of victims; it was simply too small in scale and limited in scope. But, given the many competing demands for government support, this was all that the government could manage at the time.Beginning in March 1991, new interim relief payments were made to victims. Sums of Rs 200 (about $8) per month were paid to all victims who lived in 37 of the city’s 54 wards that were officially classified as “gas affected.” A total of $260 million was disbursed, but the money was given to all people who lived in the affected wards, not just the victims. In fact, many of the people who lived in these 37 wards were not victims at all: they had moved in after the accident. As cash relief payments flowed into the city, the local inflation rate jumped to between 15 and 20 per cent per annum. Most people pinned their hopes of long-term recovery on anticipated compensation from Union Carbide.”
Source:- Shrivastava, Paul. N.p.. Web. 25 Apr 2013. <http://archive.unu.edu/unupress/unupbooks/uu21le/uu21le0d.htm>.
Fathia! I think you can also research on the how the crisis affected Union Carbide’s financial standing in the industry. The database “Mergent Web Reports” contains some information on that!