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Why the farmers’ protests could hurt economic recovery
Why the farmers’ protests could hurt economic recovery | India Today Insight
As farmer protests enter the 34th day, industry bodies raise concerns of mounting losses if the impasse continues
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Farmers protest against the new farm laws at the Singhu border, Dec. 23 (Hardik Chhabra)
For over a month now, farmers from two crucial states Punjab and Haryana have been up in arms against the government, protesting against the new farm laws. Several thousand farmers have been camping at many of the borders of the national capital, including Chilla, Singhu and Tikri borders. Industry chambers say that the ongoing protests are a dealing a major blow to the inter-connected economies of the region, including those of Punjab, Haryana and Himachal Pradesh.
Disruptions due to farm stir causing Rs 3500 crore daily loss, say industry bodies
Disruptions due to farm stir causing Rs 3500 crore daily loss, say industry bodies
Industries bodies, Assocham and the CII estimate that the disruptions caused by the ongoing farm stir are causing a loss of around Rs 3,500 crore daily. The industry bodies appealed to the government and the farmers to resolve the deadlock soon.
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UPDATED: December 15, 2020 16:16 IST
Industry bodies have said the protests by farmers in northern states are causing a loss of Rs 3,500 crore daily. (Photo: PTI)
While the
government and the protesting farmers have failed to arrive at a point of convergence that can end the stir over the new farm laws, trade and industry bodies have raised a desperate red flag. According to top industry and commerce federations, the protests are causing an estimated loss of Rs 3,500 crore daily.
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Farmers protest not only impacting economic recovery but putting huge dent to supply chain: CII
The current agitation by farmers has led to supply chain disruptions, which will impact the economy in the coming days and may impinge upon the ongoing recovery from the economic contraction due to COVID-19, industry body CII said on Monday. Given the challenge to get the economy back on the growth trajectory, Confederation of Indian Industry urges all the stakeholders to urgently seek ways to end the ongoing protests and reach an amicable solution, in the interest of industry and economy, CII said.Â
» Farmers Protest Causing Daily Loss of Rs 3,000-3500 Crore to Economies of Punjab, Haryana and HP
1-MIN READ Farmers Protest Causing Daily Loss of Rs 3,000-3500 Crore to Economies of Punjab, Haryana and HP
Farmers at Singhu border during their sit-in protest against the Centre s farm reform laws, in New Delhi, Monday, Dec. 14, 2020.(PTI Photo)
Around two-thirds of consignments in transit are taking 50 per cent extra time to reach their destinations in Punjab, Haryana, Rajasthan and Delhi-NCR, ASSOCHAM said.
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Industry body ASSOCHAM on Tuesday said the ongoing protests against the farm reform laws are dealing a big blow to the interconnected economies of the region, including Punjab, Haryana and Himachal Pradesh.