Protesting against the UPA governments decision for hiking diesel prices and opening FDI in multi-brand retail, the opposition parties had called for a \u2019Bharat Bandh\u2019 for this Thursday.<\/p>\n
The opposition sponsored bandh has evolved mixed response across the country. Apart from NDA and the Left, parties like Samajwadi Party, TDP, and DMK also had supported the bandh. While metros like Mumbai and Delhi\u00a0\u00a0 were unaffected by the shutdown, in many states like UP, Bihar, Bengal, Odisha, the bandh was total. The protestors have disrupted train service at many places, especially in states ruled by opposition parties. Confederation of All India Traders (CAIT) has claimed that lakhs of traders participated in the protest by shutting their shops. The secretary general of CAIT said that it was a successful trade bandh which demonstrated the anger and resentment of the trading community on the issue of Foreign Direct Investment in retail.<\/p>\n
While the bandh reflected the political message of the parties, the impact of the same on the economy is worth investigating. According to communiqu\u00e9 released by Confederation of Indian Industries( CII) the business trade sector has taken a heavy hit, the losses running to 12500 Crore rupees. At a time the country is battling a slowdown, this seems to be grave situation.<\/p>\n
ASSOCHAM\u2019s secretary general D.S Rawat has said in a statement that the bandh has eroded the country\u2019s Gross Domestic Product (GDP) by a loss estimated at Rs.10,000 Crores, in terms of disruption in production and trade.<\/p>\n
The CII stated that while the reform ultimately benefits the masses, the economic logic is not easily understood by all. It added that comprehensible communication is as much a necessary exercise as are the announcement s made.CII president Adi Godrej expressed hope that the political parties ensure that economic reforms necessary for the nation are implemented. The ASSOCHAM Secretary General opined that the subsidies saved by the hiking diesel prices and limiting subsidised LPG cylinder will be used to fund government\u2019s welfare programs. Further, he added that the concerns of trader\u2019s community regarding FDI in retail should be addressed. The FCCI while acknowledging the burden on the common man and business, stated that for obtaining long term gain, some short term pain has to be endured.<\/p>\n","protected":false},"excerpt":{"rendered":"
Protesting against the UPA governments decision for hiking diesel prices and opening FDI in multi-brand retail, the opposition parties had called for a \u2019Bharat Bandh\u2019 for this Thursday. The opposition sponsored bandh has evolved mixed response across the country. Apart from NDA and the Left, parties like Samajwadi Party, TDP, and DMK also had supported […]<\/p>\n","protected":false},"author":37,"featured_media":1773,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[146,131],"class_list":["post-1772","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-harthal","tag-india"],"_links":{"self":[{"href":"https:\/\/entecity.com\/news\/wp-json\/wp\/v2\/posts\/1772"}],"collection":[{"href":"https:\/\/entecity.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entecity.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entecity.com\/news\/wp-json\/wp\/v2\/users\/37"}],"replies":[{"embeddable":true,"href":"https:\/\/entecity.com\/news\/wp-json\/wp\/v2\/comments?post=1772"}],"version-history":[{"count":0,"href":"https:\/\/entecity.com\/news\/wp-json\/wp\/v2\/posts\/1772\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entecity.com\/news\/wp-json\/wp\/v2\/media\/1773"}],"wp:attachment":[{"href":"https:\/\/entecity.com\/news\/wp-json\/wp\/v2\/media?parent=1772"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entecity.com\/news\/wp-json\/wp\/v2\/categories?post=1772"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entecity.com\/news\/wp-json\/wp\/v2\/tags?post=1772"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}