Trade unions strike to cost Rs 25,000 crore, says Assocham

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The apex body, ASSOCHAM, estimated a hefty loss of about Rs 25,000 crore due to the ongoing strike by the central trade unions. The daily wage earners were said to be most affected by the strike.

Central trade unions were advised to call off their one-day nationwide strike as it was believed to have affected the functioning of various essential services like banking, power supply, oil and gas, transport, warehousing and other vital public services.

Secretary General of ASSOCHAM, DS Rawat reported disruption of essential services with an estimated loss of over Rs 25,000 crore that would cost the economy numerous direct and indirect losses.

The strike is likely to hit industrial activity due to poor workers’ attendance, besides footfall in retail trading markets. A big jolt was seen for people travelling by public transport.

However, labour reforms were made necessary with government’s intervention for agreeable solution in the interest of the industry and the nation as a whole.

Secretary General further added that immediate efforts must be made at the macro policy level to ensure that process of economic reforms and other important components are not adversely affected.

Source:http://www.dnaindia.com/

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