India, July 2 -- As the fears of a 'megaquake' in Japan increase, the Japanese government has stated it needs to prepare better for the possible natural disaster.

Based on the report by a government panel, Japan is expected to witness an earthquake of magnitude 7 or higher within the next 30 years in the Nankai Trough. This risk, which earlier stood at 75 per cent, has now increased to 82 per cent.

As per Japan's Earthquake Research Committee, the megaquake and the subsequent tsunami warning it may issue could cause as many as 298,000 deaths and damage up to 2 trillion US dollars.

With the new estimates issued by the Japanese government, Tokyo is now working towards ensuring its prepared plan remains valid for the megaquake.

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