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Bhima Koregaon violence | Approx Rs 1,000 cr: The price tag of a bandh

Shops and establishments, malls, hotels and restaurants, cinema houses and multiplexes were impacted the most.

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The day-long state-wide shut-down called by various Dalit parties may have caused an estimated loss of Rs 700 to Rs 1,000 crore, say trade bodies in the state. Shops and establishments, malls, hotels and restaurants, cinema houses and multiplexes were impacted the most.

From the estimated 35 lakh license holders in the country, 15 lakh are in Mumbai alone and they bore the brunt of Wednesday's bandh. "If you calculate their daily turnover of Rs 2,000, the loss is estimated at Rs 700 crore," says Viren Shah.

The President of Federation of Retail Trade Welfare Association continues, "This does not augur well for progressive a state such as Maharashtra. The city and other parts of Maharashtra came to a standstill which was never the case when Shiv Sena organised shut downs in the past.''

Shah said that the license holders are already burdened with higher taxes and fines and are not compensated for damages caused by protests. He added that shops and other establishments are soft targets and suffered the most in Wednesday's bandh.

The Indian Merchants Chamber (IMC) estimated the loss to be around Rs 1,000 crore. Its Director General, Arvind Pradhan, said for the first time in IMC's 150-year-old history, did protesters force the management to close the main entrance opposite Churchgate station.

"Law and order was completely broken," said Pradhan. "It should have been effectively handled considering that Mumbai is a financial capital of the country. Such protests cause fear psychosis among the businesses.''

Vijay Jatia, chairman and managing director of Modern India Ltd also projected the loss to be in the of Rs 800 to Rs 1,000 crore. "This is a step backward," said Jatia, who is in the real estate and textile business, "In the past one year, industries and businesses have been affected by demonetisation; then there was disruption caused by GST and also because of the monsoons. And now comes this bandh.''

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