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Bharath bandh will cost Rs 20,000 crore loss to Indian economy

New Delhi, February 19: The all India 2 day strike called by as many as 11 trade unions will cost Rs 15,000 - 20,000 crore loss to the country, according to Associated Chambers of Commerce and Industry of India (ASSOCHAM). The strike will affect banking, insurance, transportation sectors. In the current economic year, Indian economy has grown at a rate of only 5 percent hence giving a major blow to the economy, said ASSOCHAM President Rajkumar.

The All India Strike has jointly been called by main unions like INTUC backed by Congress, CITU backed by Communist party, BMS by BJP etc in protest against rising price of essential commodities, FDI in retail, public sector disinvestment and many more issues. Public sector banks will be closed for two days as Public sector employees' union is also participating in the strike. "The United Forum of Bank Unions, including officers, has taken a unanimous decision to participate in the strike," said MR Shenoy, general secretary, state body, Bank Employees Federation of India (BEFI).

Major auto rickshaw unions, taxi union and public transport unions will participate in the strike as well with daily life definite to be affected. The government meeting with leaders of trade union is not expecetd to make any changes in the decision to go with the 2-day strike.

To be affected 

Public sector banks, insurance, public transport, auto rikshaws, taxis

Not to be affected

Private sector banks, big operators cab service, airlines


Posted by Robin

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