 "Rioting and arson in Saharanpur caused loss of Rs 244 cr: Assocham study")
Recent incidents of rioting and arson in Saharanpur has led to a loss of about Rs 244 crore to the city, says an Assocham Study.
An analysis, Economic impact analysis of Saharanpur riots, conducted by the Associated Chambers of Commerce and Industry, said micro, small and medium enterprises suffered losses of about Rs 25 crore and marginal workers sustained wage loss of about Rs 18 crore.
"Considering that gross domestic product (GDP) of Saharanpur district is about Rs 8,900 crore, the Assocham Economic Research Bureau has calculated the loss to the GDP of about Rs 244 crore in the 10 days of rioting. This is the consolidated amount of economic loss to the agriculture, industry and services sectors in the district," the study said.
It said that about 20 per cent micro, small and medium enterprises of the total 17,000 units have closed shutters with an estimated loss ranging between Rs 23 crore and Rs 25 crore.
"Recent riots in Saharanpur have resulted in massive destruction of houses, shops, showrooms and other physical assets as mobs went on the rampage...," said National Secretary-General of Assocham D S Rawat.
Loss to state and people
"Industrial activity has been suspended in most parts of the district, resulting in significant financial loss not only to industry but even the exchequer. It is thus imperative for both the Centre and the Uttar Pradesh government to take more effective, stringent steps and the state's law and order machinery should act fast to contain tense situation across UP districts," Rawat said.
The state should set up a cell to monitor and review the performance of the government authority.
Assocham said: "Apart from this, provision for timely and adequate measures related to relief, rehabilitation, reparation and restitution of all persons should also be monitored effectively."
With over 3.4 million inhabitants, Saharanpur district has a share of about two per cent in the total population of Uttar Pradesh and contributes over two per cent of Uttar Pradesh's gross state domestic product.
An analysis, Economic impact analysis of Saharanpur riots, conducted by the Associated Chambers of Commerce and Industry, said micro, small and medium enterprises suffered losses of about Rs 25 crore and marginal workers sustained wage loss of about Rs 18 crore.
"Considering that gross domestic product (GDP) of Saharanpur district is about Rs 8,900 crore, the Assocham Economic Research Bureau has calculated the loss to the GDP of about Rs 244 crore in the 10 days of rioting. This is the consolidated amount of economic loss to the agriculture, industry and services sectors in the district," the study said.
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"About 60,000 daily workers engaged in repairing and servicing wooden furniture, agro-based machinery and other jobs in and around Saharanpur have been the worst affected in the aftermath of the riots," said the analysis.
It said that about 20 per cent micro, small and medium enterprises of the total 17,000 units have closed shutters with an estimated loss ranging between Rs 23 crore and Rs 25 crore.
"Recent riots in Saharanpur have resulted in massive destruction of houses, shops, showrooms and other physical assets as mobs went on the rampage...," said National Secretary-General of Assocham D S Rawat.
Loss to state and people
"Industrial activity has been suspended in most parts of the district, resulting in significant financial loss not only to industry but even the exchequer. It is thus imperative for both the Centre and the Uttar Pradesh government to take more effective, stringent steps and the state's law and order machinery should act fast to contain tense situation across UP districts," Rawat said.
The state should set up a cell to monitor and review the performance of the government authority.
Assocham said: "Apart from this, provision for timely and adequate measures related to relief, rehabilitation, reparation and restitution of all persons should also be monitored effectively."
With over 3.4 million inhabitants, Saharanpur district has a share of about two per cent in the total population of Uttar Pradesh and contributes over two per cent of Uttar Pradesh's gross state domestic product.