New Delhi: A leading industry chamber on Wedneday said it estimated the three-day shutdown by traders in the national capital may have cost Rs 7,000 crore in terms of business lost.
ASSOCHAM said the total revenue loss to the exchequer due to the stir would be to the tune of Rs 600-650 crore. "Total trading activities lost during the last three days would be around Rs 7,000 crore," ASSOCHAM said.
Shops and some commercial establishments in Delhi remained shut since October 30 in protest against the Municipal Corporation of Delhi's (MCD) action of sealing shops operating out of residential premises. The sealing action followed a Supreme Court order in this regard.
"However, the worst sufferer has been the 15 lakh daily wage earners in the national capital who have been thrown out of business due to the stir," ASSOCHAM said.
CII, meanwhile, estimated the loss to the exchequer based on average VAT collections in Delhi at Rs 150 crore. "The three-day bandh will have a laggard effect on Delhi's economy," it said.
The chamber urged the Government to come out with the Master Plan for Delhi (MPD) at the earliest. "The MPD must give clear balanced norms for land use, keeping in mind the need of Delhi and its citizens including the trading community and the services sector," it said.
The average trading activity in Delhi is estimated at Rs 2,000-2,500 crore per day.
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