Karnataka Bandh: 2-day bandh on Cauvery water dispute results into ₹4,000 crore loss | Oneindia News
The strikes in Karnataka have agitated industry leaders. They have reportedly criticised the two bandhs that were called this week over the Cauvery water dispute, one on Tuesday and one on Friday. Industry leaders reportedly claimed that strikes are not the solution and only cause significant economic losses for the state and inconvenience for the general public. According to reports, the losses estimated by the industry bodies for the two-day bandh amount to ₹4,000 crore. The staggering loss is a warning pointing out that the move may Cripple the economy, which has very recently recovered from the pandemic. Also, industry bodies said that the losses may act as a hindrance to becoming a $1 trillion economy anytime soon.
#KarnatakaBandh #BengaluruBandh #Cauvery #CWMA #Karnataka #TamilNadu #CauveryIssue
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#KarnatakaBandh #BengaluruBandh #Cauvery #CWMA #Karnataka #TamilNadu #CauveryIssue
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NewsTranscript
00:00 The strikes in Karnataka have agitated industry leaders.
00:16 They have reportedly criticized the two puns that were called this week over the Kaveri
00:20 water issue, one on Tuesday and one on Friday.
00:24 Industry leaders reportedly claimed that strikes are not the solution and only cause significant
00:29 economic losses for the state and inconvenience for the general public.
00:33 According to reports, the losses estimated by the industry bodies for the two-day month
00:38 amount to Rs 4,000 crore.
00:40 The staggering loss is a warning and industry bodies have pointed out that the move may
00:45 cripple the economy, which has very recently recovered from the pandemic.
00:49 Also, industry bodies said that the losses may act as a hindrance to becoming a $1 trillion
00:56 economy any time soon.
00:58 President of the Karnataka Employers Association, or K.E.A., B.C. Prabhakar said that buns hurt
01:04 the livelihoods of people and that they can never be an option for any issue, sentimental
01:09 or political.
01:10 Prabhakar made the statement while issuing support for the motivation and sentiment behind
01:14 the Kaveri issue.
01:15 But he asserted that buns are not the solution.
01:18 He said that let there be protests, but not a bun.
01:21 According to Prabhakar, putting economics aside, buns will damage Bengaluru's and Karnataka's
01:26 credibility because they will have an impact on international agreements and commitments.
01:31 The 720 member companies of K.E.A. are instructed to make a decision about closing based on
01:36 the local situation because the organization has declined to take a stand on the bun.
01:41 According to the Federation of Karnataka Chambers of Commerce and Industry, or FKCCI, it will
01:47 take a business entity at least a week to make up for losses from just one day of the
01:52 bun.
01:53 FKCCI President-elect Ramesh Chandra Lahoti said that about 80 per cent of Bengaluru's
01:59 industries have agreed to close for a day on Tuesday, that is, on September 26, in light
02:04 of the Kaveri issues, origins and sentiments.
02:07 But they are hesitant to close again on Friday.
02:12 The Hoteliers Association, which, as per reports, directly or indirectly employs about 10 lakh
02:17 people, projects a daily loss of Rs 100 crore from excise duties alone.
02:23 President of Bengaluru Hoteliers Association P.C.
02:25 Rao stated that while reports suggest heavier losses, revenue generation in the hotel industry
02:31 is on a daily basis.
02:33 He further said that other industries can resume operations the following day and make
02:37 up lost revenue.
02:38 But that is not an option for hoteliers.
02:40 Rao also said that due to lack of clarity, the Hotel Association cannot support the bun
02:45 call.
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