Apprehending risks to fresh investment activities in the region, PHD Chamber of Commerce and Industry has estimated that Haryana and other northern States may face Rs34,000 crore loss of economic activity due to Jat agitation during the last few days.
There is a huge loss of the economic activity not only in Haryana but across the Northern States of India due to the nine days long Jat agitation. Based on inputs received from various industry stakeholders across the States, we estimate that these States may face Rs34,000 crore loss of economic activity, said Mahesh Gupta, president, PHD Chamber of Commerce and Industry.
As supply of the essential items has been severely impacted, we cannot rule out the impact on inflation, he said.
Disruption in overall transportation activities including railways, roads, passenger vehicles, goods vehicles, drop down in tourists arrivals, loss in financial services, hit to the industrial sector including manufacturing, electricity, and construction; the overall activity has choked and may result in a huge loss in the GSDP of states for the last quarter of FY15-16, said Gupta.
All the northern states of India including Haryana, Punjab, Delhi, Chandigarh, Rajasthan, Uttarakhand, Uttar Pradesh, Jammu and Kashmir and Himachal Pradesh contribute at around 32 per cent in India’s GSDP. Meanwhile, expressing concern over a huge loss of lives and property in Haryana, ASSOCHAM on Tuesday said Chief Minister Manohar lal Khattar should ensure that those who have suffered at the hand of violent agitation should be compensated in a speedy manner to restore confidence in the State.
“The Jat agitation has resulted in one of the worst violence in the state, which had been so far been known as peaceful and progressive and had remained a preferred investor destination. While these incidents have shaken India Inc present inside and outside Haryana, immediate succour would partly restore confidence,” ASSOCHAM president Sunil Kanoria said in an appeal to the Chief Minister.
While the ASSOCHAM Research Team had done initial estimates of loss to the state's economy and public private property between Rs 18,000-20,000 crore, the damage could even rise, given an unprecedented level of damage done to cities like Rohtak and Jhajjar which have suffered maximum of the brunt, he said.