Home Nation World Business Politics Odd & Weird Region Entertainment Education
Pardaphash Logo
Hindi


'Bandh' costs Rs 12, 500 crore to India




Published by:
Published on: Thu, 20 Sep 2012 at 13:50 IST
'Bandh' costs Rs 12, 500 crore to India
New Delhi: The nation-wide stir against the government decision to allow foreign direct investment (FDI) in multi-brand retail and hike in Diesel prices is estimated to have caused an estimated loss of Rs.12,500 crore (2.25 billion USD) to the Indian economy, the Confederation of Indian Industry (CII) said Thursday.

"Today's bandh (strike) has been disruptive for business and trade in many parts of the country. While an exact loss for the entire economy is not known, it can be estimated that almost Rs.12,500 crore has been the loss to the country in terms of disruptions in production and trade," the CII said.

The industry association said the government should not roll back the recent reform measures under political pressure.

"Good economics seldom makes for good politics and therefore, it is important to communicate to the masses the merit and necessity of the reform measures announced by the government," the CII said.

In a rare show of unity, leaders of the Communist parties and the Bharatiya Janata Party (BJP) came together to denounce the government's decision to hike diesel prices and allow foreign direct investments (FDI) in multi-brand retail trade.

Some allies of the UPA government, notably Mamata Banerjee-led Trinamool Congress are also protesting against the government's reforms decisions, but are not supporting the strike.

Adi Godrej, president, CII, expressed hope that parties across the political spectrum would work to ensure that the much needed economic reforms were carried out in the country.

"It is not often that bold measures are announced to take economic reforms to the next level and whenever such announcements have been made, there have been pain felt by many," Godrej said in a statement.

"But the merits of the reforms that were first initiated in the early nineties are there for everyone to see. Irrespective of whichever political party has been in the government since then, the reforms have not been reversed," he added.
Previous
Pardaphash, Desh Sewa NGO organize special event on Martyrs' Day
Pardaphash, Desh Sewa NGO organize special event on Martyrs' Day
Shahrukh Khan-Kajol starrer Dilwale goes on floor with all boys-brigade | See Gallery
Shahrukh Khan-Kajol starrer Dilwale goes on floor with all boys-brigade | See Gallery
Kendall Jenner shows off sexy curves in topless, nude photographs | See Gallery
Kendall Jenner shows off sexy curves in topless, nude photographs | See Gallery
British bombshell Lucy Pinder ready to sizzle in Bollywood with scorching looks in Warrior Savitri | See Hot Gallery
British bombshell Lucy Pinder ready to sizzle in Bollywood with scorching looks in Warrior Savitri | See Hot Gallery
Hyundai to gift few high-tech cars to Indian roads in near future | See Gallery
Hyundai to gift few high-tech cars to Indian roads in near future | See Gallery
Sofia Hayat raises mercury in Main Hoon Ladki song | See hot Gallery
Sofia Hayat raises mercury in Main Hoon Ladki song | See hot Gallery
Miley Cyrus goes erotic to seduce in nude, topless controversial images | See gallery
Miley Cyrus goes erotic to seduce in nude, topless controversial images | See gallery
Lady Gaga crosses all limits of sensuality in nude, topless images | See Gallery
Lady Gaga crosses all limits of sensuality in nude, topless images | See Gallery
Kim Kardashian sizzles down social media with topless, nude photographs | See Gallery
Kim Kardashian sizzles down social media with topless, nude photographs | See Gallery
Bollywood starlets who went seductive for Peta’s animal welfare campaign | Hot Photographs
Bollywood starlets who went seductive for Peta’s animal welfare campaign | Hot Photographs
Sexy Sunny Leone Grooves in Desi Avatar in Saiyaan Superstar Song from Leela
Sexy Sunny Leone Grooves in Desi Avatar in Saiyaan Superstar Song from Leela
Zoom Holi 2015 Party at Darya Mahal
Zoom Holi 2015 Party at Darya Mahal
Salman Khan's Holi Bash With Family, Friends
Salman Khan's Holi Bash With Family, Friends
Sexy Sofia Hayat plays Holi in Bikini
Sexy Sofia Hayat plays Holi in Bikini
Samsung's new phones Galaxy S6 and S6 Edge - A Glimpse
Samsung's new phones Galaxy S6 and S6 Edge - A Glimpse
Next
BREAKING NEWS
Co-pilot deliberately crashed Germanwings jetliner: French prosecutor
Australia beat India by 95 runs
 
Opinion Polls
Who will win semifinal between India and Australia?
India
Australia
Tie


Pardaphash name, logo and all associated elements ® and © 2011 Mahakaal News Management Pvt. Ltd.
All rights reserved. Pardaphash and the Pardaphash logo are registered marks of Mahakaal News management Pvt. Ltd.
Pardaphash is hosted with Enzoo could compute engine.
Valid XHTML 1.0 Transitional
This page is generated in : 0.008 Seconds




EXCLUSIVE: Azam Khan drives bus; Hits divider, risk hundreds of lives