Bandh evokes mixed response, CII estimates Rs 12,000 crore loss to economy

September 20, 2012
Bundh

New Delhi, September 20: The bandh called by NDA, Left parties and SP to protest against diesel price hike, FDI in multi-brand retail and cap on subsidized LPG on Thursday evoked mixed response as protestors disrupted road and rail traffic in parts of UP, Bihar, West Bengal and Odisha but it had little impact in Mumbai.

In Delhi, most of the markets remained closed and vehicular movement was normal though protesters blocked traffic at some places.

Shops in some areas like Bhogal, Laxmi Nagar, Defence Colony and South Extension in the capital were open in the morning hours but big markets like Khan Market, Connaught Place, Greater Kailash, Karol Bagh, Chandni Chowk and Kashmere Gate were shut.

Auto rickshaws plied in the city and buses of state-run Delhi Transport Corporation (DTC) were on the roads in large numbers. At New Delhi railway station, auto drivers staged a protests and refused to carry passengers.

However, most of the private schools in Delhi remained closed.

BJP supporters blocked vehicular movement on Vikas Marg. A BJP spokesperson said the party will be staging protests at around 100 locations in the capital.

A senior Delhi Police official said a large number of personnel have been deployed. "We have ensured that every major road has police presence," he said.

Samajwadi Party and BJP workers staged demonstrations and stopped trains at a number of places in Uttar Pradesh. Protestors stopped trains in Mathura, Agra, Varanasi, Allahabad and Lucknow while BJP workers and traders blocked the Agra-Gwalior Highway by burning tyres.

Major markets remained closed at a number of places in UP, including in the state capital, official sources said in Lucknow.

Raising slogans against FDI in retail, a group of SP workers held a demonstration outside the Wal-Mart store at Sultanpur in Lucknow. The party also protested outside divisional railway manager's office in Hazratganj.

The bandh evoked little response in Mumbai owing to Ganesh festivities across Maharashtra. Shiv Sena and Maharashtra Navnirman Sena (MNS) have kept away from the day-long bandh due to the festival.

Loss of Rs 12,000 crore

"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 ($2 billion) has been the loss to the country in terms of disruptions in production and trade," the Confederation of Indian Industry (CII) said on Thursday.

It also 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.


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News Network
February 11,2020

Aligarh, Feb 11: Paediatrician Dr Kafeel Khan, who was arrested from Mumbai on January 29 after he delivered a speech at Aligarh Muslim University (AMU) against communalism and politics of hate, will be released from jail on Tuesday after he was granted bail by an Aligarh court.

Khan will be released from Mathura jail on Tuesday after legal formalities are completed.

Chief judicial magistrate Karuna Singh granted bail to Khan on Monday on a bail bond of Rs 60,000. Two surety bonds of Rs 60,000 each would also be furnished by the guarantors.

Dr Khan's lawyer, Mohammad Irfan Gazi, told reporters, "The court was told that Khan was falsely implicated by police under political pressure. After hearing the arguments, the court granted him bail."

The suspended doctor was arrested by special task force (STF) of the UP police from Mumbai on January 29, when he reached the city to attend a protest against the Citizenship (Amendment) Act.

He was arrested in connection with a case registered against him in Aligarh under section 153-A (promoting enmity between different groups on ground of religion) of the Indian Penal Code at Civil Lines police station on December 13

The case was filed after his speech at Aligarh Muslim University (AMU).

According to the FIR, while addressing students, without naming anyone, Dr Kafeel Khan said that 'Mota Bhai' is teaching everyone to become Hindu or Muslim but not a human being. "This is a fight for our existence. We have to fight."

The FIR also said that Dr Kafeel Khan made an attempt to vitiate the peaceful atmosphere and disturb the communal harmony with his speech.

Dr Khan was in the news in 2017 when he was named as one of the nine accused in a case involving deaths of several children due to alleged disruption in supply of oxygen at the BRD Medical College in Gorakhpur. Though he was granted clean chit in a departmental inquiry, his suspension has not yet been revoked.

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News Network
February 28,2020

Feb 28: Market benchmark Sensex plummeted over 1,100 points, wiping off over Rs 5 lakh crore investor wealth, in opening session on Friday amid a massive selloff in global equities as rising coronavirus cases outside China stoked fears of a pandemic that could dent world growth.

The 30-share index sank 1,100.27 points, or 2.77 per cent, to 38,645.39, while the NSE Nifty cracked 329.50 points, or 2.83 per cent, to 11,303.80.

All Sensex components were trading in the red, led by losses in Tata Steel, Tech Mahindra, Infosys, Mahindra and Mahindra, Bajaj Finance, HCL Tech and Reliance Industries.

In the previous session, the Sensex settled 143.30 points, or 0.36 per cent, lower at 39,745.66, and the Nifty fell 45.20 points or 0.39 per cent to end at 11,633.30.

According to analysts, till last week the market was of the view that coronavirus was going to have minimum impact on global economy as situation in China was being contained. But the increase in the number of new cases is changing the view and investors are worried about an intense slowdown.

Further, incessant selling by foreign investors is also spooking domestic market participants, traders said.

On a net basis, foreign institutional investors sold equities worth Rs 3,127.36 crore on Thursday, data available with stock exchanges showed.

Stock exchanges in Shanghai, Hong Kong, Seoul and Tokyo plunged up to 4 per cent in their morning sessions.

On Wall Street, the Dow Jones Industrial Average dropped 1,190.95 points, its largest one-day point drop in history, bringing its loss for the week to 3,225.77 points, or 11.1 per cent.

The S&P 500 has now plunged 12 per cent from the all-time high it set just a week ago.

World oil prices too tumbled by more than 4 per cent overnight as traders fretted about the impact of spreading coronavirus on crude demand, particularly from key consumer China.

Brent crude oil futures fell another 2.47 per cent to USD 50.45 per barrel early in the day.

The rupee depreciated 28 paise to 71.89 against the US dollar in morning session.

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News Network
January 29,2020

New Delhi, Jan 29: The Janata Dal (United) today expelled its vice-president Prashant Kishor and senior leader Pavan Kumar accusing them of "anti-party" activities.

Both the leaders have been attacking the party leadership over its pro-CAA stand.

The spat between Nitish Kumar and Kishor was out in the open yesterday when the former reminded the political strategist that he was inducted into the party on the recommendation of Union home minister Amit Shah.

It all began when Nitish, while talking to the media here, said, “I don’t have any problem if he (Kishor) wants to leave the party. But if he wants to stay, then he will have to follow the basic structure of the party.”

Varma had also questioned the JDU's alliance with the BJP in Delhi Assembly polls while Kishor has more than once voiced his differences with the party known on the issue of CAA and NRC.
 

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