Bharat Bandh: Loss upto Rs 20,000 crore expected

Bhubaneswar, Feb 19:Industry body Assocham Tuesday urged central trade unions to withdraw the Feb 20-21 two-day-strike as the economy would lose Rs.15,000-20,000 crore due to the disruption.

The Associated Chambers of Commerce and Industry of India (Assocham) said it estimated the national loss figures based on the daily erosion of about 30-40 per cent to the country's gross domestic production (GDP) for two days.

"The strike would take its toll on at least 30-40 per cent, or Rs.15,000 crore to Rs.20,000 crore," Assocham said in a statement here.

"The national economy, battling a slowdown, can ill-afford this situation" Assocham president Rajkumar Dhoot said. "In fact, the strike would aggravate the price situation because of disruption in the supply of essential commodities."

"Given the nature of the strike and involvement of the all five major central trade unions, it is going to affect the services sector, including banking, financial services, tourism, transportation, etc, which are the major contributors to the country's GDP," Dhoot added.

The central trade unions have given a two-day nationwide shutdown call Feb 20-21 against price rise, inflation and poor employment.

"The government has adopted an economic policy which creates inflation and recession. This is frustrating," Ramakrushna Panda, national Secretary of All India Trade Union Congress, told IANS.

IANS