New Delhi: Industry body Assocham Tuesday urged the Centre and farmers’ organisations to resolve the impasse over the new agri laws, saying that the protests are inflicting a heavy blow to the economies of Punjab, Haryana, Himachal Pradesh and J&K.
“A daily loss of Rs 3,000-3,500 crore is resulting in the economies of the region from the value chain and transport disruption because of the protests,” according to a rough estimate by the chamber.
Assocham President Niranjan Hiranandani said, ”The size of the combined economies of Punjab, Haryana, Himachal Pradesh and J&K is about Rs 18 lakh crore. With the ongoing farmers’ agitation and blockade of roads, toll plazas and railways, the economic activities have come to a halt.”
»Farmers Have Every Right to Demand Guaranteed MSP But Why Let Economy Take the Beating for it?
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Farmers Have Every Right to Demand Guaranteed MSP But Why Let Economy Take the Beating for it?
Farmers raise slogans during a protest in support of the nationwide strike, called by farmer unions to press for repeal of the Centre s Agri laws, in Amritsar, Tuesday. (Image: PTI)
The ongoing protests will affect the economy of the country because agriculture is a crucial sector that supports the economy.
Last Updated:December 17, 2020, 09:02 IST
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The deadlock between farmers and the government over the three new agriculture legislations is still continued. While the BJP-led NDA is claiming the new legislations to be farmer-friendly, farmers are claiming it is against their interests. Farmers are under the fear that new legislations will limit their negotiation power and leave them vulnerable to big business houses. The new legislation permits corporate buyers t
Updated Dec 17, 2020 | 15:10 IST
Times Now speaks to experts on the economic losses incurred due to farmers’ agitation amid an economic downturn caused by the COVID-19 pandemic, and the road ahead. Protesting farmer leaders shout slogans as they sit on a day long hunger strike at the Delhi- Haryana border. | Photo Credit: AP
New Delhi: On December 15, 2020, industrial bodies ASSOCHAM, CII and CAIT raised alarm bells on the economic losses the country is facing due to the farmers’ protests. While ASSOCHAM (Associated Chambers of Commerce and Industry of India) estimated a daily loss of Rs 3,000-3,500 crore because of the protests, CAIT (Confederation of All India Traders) said that trade and other activities to the tune of Rs 5,000 crore have been affected. The CII (Confederation of Indian Industry) claims logistics costs have been pushed up by 8 per cent -10 per cent. Here’s what Karan Bhasin, Economist & Researcher, and Prof. Arun Kuma
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UPDATED: December 16, 2020 09:38 IST
Farmers gather at Ghazipur border during their protest against the Centre s new farm laws, in New Delhi on Tuesday. (Photo: PTI)
The farmers’ protest against the government’s new agriculture laws has reached the 20th day and more farmers from across the country are now joining the agitation. They remain firm on their demand to get the new farm laws repealed.
As the protest continues, industry bodies representing Indian corporates are worried about the stalemate situation between farmers and the government as it is causing huge losses.
Steep losses
The Associated Chambers of Commerce and Industry of India (Assocham) has urged the government and farmers organisations to resolve the impasse over the new farm laws.