One-day strike cost economy Rs 25,000cr: ASSOCHAM

Kolkata: Apex industry body Assocham has estimated a loss of Rs 25,000 crore to the economy due to the strike call given by central trade unions on Wednesday. It has urged the central trade unions to call off their one-day nationwide strike as it is likely to seriously affect the functioning of various essential services like banking, power supply, oil and gas, transport, warehousing and other vital public services causing seismic effect on India's economy.

"Financial impact of the disruption of essential services might lead to an estimated loss of over Rs 25,000 crore to the economy thereby taking into account the numerous direct and indirect losses," said Mr D.S. Rawat, secretary general of Assocham.

"The strike is likely to hit industrial activity due to poor workers' attendance, besides footfall in retail trading markets will fall as the walkout will severely impact public transport and with bank employees remaining on strike it will affect operations at the banks," said Mr Rawat.

"A big jolt would accrue to the export cargo thereby throwing crucial delivery schedule to haywire, besides with exports being under pressure, such things like strike would give a further setback," he said. "Worst affected would be the poor daily wage earners whose plight cannot be assessed in monetary terms," added Mr Rawat.

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