Regular occurrences of flood, drought, cyclones, and heat waves, occasional occurrences of hailstorm, whirlwind, tornado, and landslide and the consequent loss of lives and properties is a constant phenomenon in the state of Odisha. The state is ranked one of the most vulnerable in India and is called the disaster capital of the country. The chapter first provides some theoretical arguments and examples on natural disaster impact on national economies to make a case whether economic backwardness of Odisha can be linked to the natural disasters incidences as frequent disasters limit the capital accumulation and investment capacity of the people. Then a detailed description of the occurrences, the spatial spread, and the intensity of the four frequent disasters and a brief report on each of the other less frequent ones that has befallen the state is presented. Using some econometric analysis, the chapter shows the impact of severe disaster years on State’s Gross Domestic Product.