Losses from bandh pegged at Rs13,000 crore
06 Jul 2010
The 12-hour 'Bharat bandh' (India shutdown) across the country called by the opposition on Monday to protest against the fuel price hike and spiralling prices in general cost the country a loss of Rs13,000 crore, according to an estimate by the Federation of Indian Chambers of and Industry (FICCI).
However, the Confederation of Indian Industries pegged the loss at Rs3,000 crore, which most analysts feel is an understatement.
Maharashtra, Delhi, Karnataka, Rajasthan and Uttar Pradesh were among the states which were worst affected by the bandh. While railways, road transport and aviation services took a hit in several states, public property suffered much damage at the hands of occasionally violent demonstrators.
While Bharatiya Janata Party and Shiv Sena workers went on a rampage in Maharashtra, the IT industry in Karnataka took a hit as the BJP-ruled government made sure that the bandh was fully observed.
T V Mohandas Pai, human resources head at Infosys Technologies in Bangalore, told a newspaper that the IT giant lost close to Rs50 crore as it was forced to shut down operations on Monday.
''We took a decision to shut down our operation because the government withdrew public transport. The government, by its action, created a sense of fear and threat of violence in the streets. It's a big shame that the city had to be close down … we (Infosys) stand to lose close to Rs50 crore," he said.
The same amount was quoted by Girish Paranjpe, joint chief executive (IT business) and executive director on the board of Wipro Ltd, who also added that the company will recover it by working an additional day.
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