Associate Farmers Movement Daily results in daily loss of Rs 3,500 crore Business News

The peasant movement continues for 20 consecutive days. Despite the rising cold, the farmers’ souls are not broken and they are not ready to leave the Delhi border without meeting their demands. Agriculture accounts for more than 114 percent of the country’s gross domestic product (GDP) and is expected to grow further in 2020-21 amid the economic downturn caused by the corona virus epidemic.

In such a situation, the Association of Indian Chambers of Commerce and Industry (ACCI) has said that the problems of the farmers should be resolved soon. There is a daily loss of Rs 35,500 crore due to farmers’ protests. This has affected the economies of states like Punjab, Haryana and Himachal Pradesh.

The economies of these states are mainly based on agriculture and horticulture. In addition, industries such as food processing, cotton textiles, automobiles, agricultural machinery and IT are also the lifeline of these states. The total economies of Punjab, Himachal Pradesh, Haryana and Jammu and Kashmir are 1.18 trillion. Economic activities such as roads, toll plazas and railways have been affected due to ongoing protests by farmers.

Association general secretary Deepak Sood said industries such as textiles, auto components, bicycles and sports products would not be able to meet their export orders. Retail prices of fruits and vegetables have also risen as supply chain has been affected.

Affects the recovery of the economy: CII
In this situation, the Confederation of Indian Industry (CII) has said that the supply chain will be disrupted due to the farmers’ movement and it will affect the economy in the coming days. The CII said the farmers’ movement could also affect the ongoing revival of the economy. “In the midst of the challenge of putting the economy on the path to development, we urge all stakeholders to find a way out of the current conflict and find a solution by mutual consent,” the CII said.

The lockdown imposed by the CII due to the corona virus epidemic has seriously affected the supply chain. Now the supply chain was improving, but it has come under pressure again due to the peasant movement. The industry body said two-thirds of the shipments were taking 500% more time to reach their destinations in Punjab, Haryana, Rajasthan and Delhi-NCR. In addition, vehicles from warehouses in Haryana, Uttarakhand and Punjab have to travel 500 per cent more to Delhi.

It needs to be resolved immediately
Nikhil Sahni, president of CII Northern Region, said, “There must be an immediate solution to the current peasant movement. It is not only affecting economic growth, but also the supply chain. Large and small industries are equally affected.”