Industry bodies quibble over loss due to bandh
The loss caused by Monday’s Bharat bandh seems to be a case of the blind men and the elephant. Each of the varied industry chambers have come out with estimates — that vary very sharply — ranging from a relatively mild impact of Rs 3,000 crore to an eye-popping Rs 13,000 crore.
“The strike has led to significant impact on business and trade in some parts of the country. While the effect has been varied across regions and states, Confederation of Indian Industry (CII) estimates that the total loss to the economy on account of the bandh would be more than Rs 3,000 crore,” said Mr Chandrajit Banerjee, director-general of the industry chamber.
He said the worst-affected were daily-wage earners and people dependent on small trade.
Yet another industry chamber, Ficci, said that the bandh’s affect had been quite widespread, except in Tamil Nadu and Rajasthan. However, according to Ficci, the impact of the bandh was much higher. “It is estimated to have cost the nation close to Rs 13,000 crore in terms of GDP at factor cost,” said Ficci in a statement issued on Monday.
A third industry body, Assocham, has pegged the loss due to the bandh at Rs 10,000 crore.
Amongst the various industries, impact on IT and ITeS sectors was limited because of the July 4 — US Independence day holiday, on a Sunday this time.
Many organisations were closed on Monday for that reason. However, such strikes send a bad signal, says Nasscom president Mr. Som Mittal.
Comments
It is very painful that one
vcs
06 Jul 2010 - 15:22
It is very painful that one side country is making efforts to achieve double digit and inclusive growth, the other side, we are losing a large amount of money due to bandh like the one we had on 5th July, 10. Nobody would dispute that the increase in the petroleum and other products has an impact on the common people in this country. But, at the same time, we forget to understand that the y/day's strike has affected the most was poor and daily wage workers and one day loss of work means for them, no wage and no bread for that day. In a country like ours, there is a large section of society looking at income they get at the end of the day, for feeding their family. It is cruel that we are stopping them in getting their daily bread by resorting this kind of strike call.
We have to change our mind set and our leaders must understand that bandh is not the last tool in protesting Governments policy and decisions, whatever may be the causes they are fighting for. They must look at other alternatives which would not affect the common and under privileged people in this country.
Let God give us more wisdom.
Regds
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