Hi @manojkulkarni
see the sample flow design to get you understand the things
I have created two columns in a sharepoint list - Forecast date and Status like below

Now coming to flow design
1. You have to design a recurrance flow which runs at specific interval of time.
see the link for getting details about recurrance flows :- https://www.serverlessnotes.com/docs/understanding-the-power-automate-recurrence-schedule-trigger
2. Select flow type as Scheduled flow and create it by setting the flow run interval,
3. Use get items action to get items from SharePoint List

Here we have written a filter query which filters the item based on status column, if status column is inprogress or not closed.
4. Next use an apply to each loop which loop through the value array (dynamic content from get items )

Next steps are explained under loop
4.1- use a condition with expression which calculates the difference b/w forecast date and current date, if difference >0 it means current date has passed forecast date

Expression used:-
int(split(dateDifference(formatDateTime(items('Apply_to_each')?['ForecastDate'],'yyyy-MM-dd'),formatDateTime(utcNow(),'yyyy-MM-dd')),'.')?[0])
once this condition is satisifed, use send email in yes branch to send email
Hope it helps !