Northern States likely to see ₹34,000-cr loss due to Jat stir, says PHD chamber

As Haryana limps back to normalcy after large-scale violence during the Jat quota agitation in the past few days, industry has estimated a combined loss of ₹34,000 crore in the Northern States of Uttar Pradesh, Rajasthan, Punjab and Himachal Pradesh, among others.

“Based on inputs received from various industry stakeholders across the States, we estimate that these States may face ₹34,000-crore loss of economic activity due to the Jat agitation during the last few days,” said Mahesh Gupta, President, PHD Chamber of Commerce and Industry, flagging risks to fresh investment activities in the region.

He also cautioned that since supply of essential items had been severely impacted, the impact on inflation could not be ruled out.

Loot and arson in the past few days across Haryana disrupted transportation activities, including railways, roads, passenger vehicles and goods vehicles, and led to a drop in tourists arrivals, loss in financial services, and hit the industrial sector.

“The overall activity has choked and may result in a huge loss in the Gross State Domestic Product for the last quarter of 2015-2016, Gupta said in a statement. The Northern States contribute 32 per cent to India’s GSDP.