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Friday bandh took a Rs 400 cr toll on tax revenues
Hospitality sector faced a major beating even as 80 per cent of traders and businessmen extended their support to the Bandh
Bengaluru: A resounding display of protest against the ongoing Cauvery water dispute was observed in the Karnataka bandh on Friday, marking the third such disruption to hit Bengaluru in just twenty days. These repeated shutdowns have cast a long shadow over the city’s economic landscape, resulting in massive losses across various sectors.
The bandh, organised by several pro-Kannada groups, aimed to compel the state not to release Cauvery water to Tamil Nadu, a matter of deep concern for many residents. This relentless agitation, however, has had significant repercussions, with Friday’s bandh alone causing a staggering loss of Rs. 400 crore in tax revenues for both the state and the central government.
Bengaluru, the epicentre of these protests, grappled with multiple bandhs over the past three weeks, leading to the shuttering of shops and business establishments. The private transport association initiated the disruption on September 11, partly paralysing the city’s usual hustle and bustle.
Subsequently, a second bandh was organised by a faction of pro-farmer groups, echoing the demand for an immediate halt to water releases to Tamil Nadu. Friday’s bandh, orchestrated by pro-Kannada organisations, further disrupted normal life, amplifying the ongoing dispute’s intensity.
President of the Federation of Karnataka Chambers of Commerce and Industry (FKCCI), Ramesh Chandra Lahoti, offered his insights into the economic toll, revealing that an astonishing 80 per cent of traders and businesses had extended their support to the bandh. Lahoti disclosed that the state incurred a substantial loss of Rs. 400 crore in tax revenues in just one day. He emphasised the need for the state government to engage in constructive dialogue to address the water issue.
Industry insiders painted a grim picture of the economic impact, stating that the Tuesday, September 26 bandh in Bengaluru alone resulted in losses amounting to at least Rs. 250 crore across various sectors. The hospitality industry, which forms a crucial part of Karnataka’s economy, bore a collective brunt, with over 10,000 hotels suffering a cumulative loss estimated between Rs. 150-160 crore.
Further compounding the economic woes, sources claimed that the excise industry incurred losses ranging from Rs. 180-200 crore due to the bandh observed on both Tuesday and Friday.
The cumulative financial impact of these successive disruptions continues to reverberate through Karnataka’s economic landscape, underscoring the urgency of finding a resolution to the longstanding Cauvery
water dispute.
