The Centre would soon announce a compensation package to those affected by tsunamis, Finance Minister P Chidambaram has said.
"Some announcements will be made about monetary relief from the government of India. Prime Minister Manmohan Singh will take the decision during the course of the day," Chidambaram told reporters after FICCI's annual general body meeting in Delhi on Monday.
He allayed fears that the incident would impact the tourism industry in south India. "There will be a short-term impact but not in the long run," he said.
To a query on the financial impact, he said, "I don't think there will be a great impact on the fiscal side. The impact is on the lives of people. It is a crisis that we can manage," he said.
Chidambaram, who will visit the affected districts in Tamil Nadu on Tuesday and Wednesday, said, "Loss of lives is very high. The estimate is close to 3,000 in India. The first priority is to ensure that relief reaches those who lost their breadwinner."
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