This study will undertake an analysis of past extreme weather events to inform Sixteenth Finance Commission (SFC)¡¯s recommendations by providing a data-driven understanding of the economic losses incurred and the effectiveness of existing financial and institutional mechanisms in responding to such disasters. This study will undertake an analysis of extreme weather events from the past decade; focusing on the economic impacts and the expenditures from Central and State funds. Specifically; the assignment seeks to assess historical data to determine trends and analysis of economic losses from extreme weather events and disasters in the past ten years in India and identify gaps in the financial resources available for disaster risk management; particularly for economic impacts of disasters.