So, what do you do when inflation strikes? Apply deflationary measures like raising the CRR, for one? Well, if you are a political party (or a group of parties) in India, you call for a nationwide bandh. Other than making a huge political show of strength, how on earth this helps solve the inflationary crisis is something only the parties know.
A typical 9 AM scene in Mumbai is one of cars, buses and pedestrians jostling for space on already clogged roads, everyone trying to get to work. But on bandh-day, this is how it looks.
Deserted street in Mumbai
Mumbai loses business worth a few hundred crores (billion rupees) for each lost day of business. Multiply that by the number of business pockets spread across India and you have a logjam that boggles the mind.
With road transport being a major link in the food and essential commodities distribution chain, a blockade of road transport leads to the prices of food items and essentials going overboard thereby burdening an already over-burdened Common Man.
For a country that aspires to be a global player and economic superpower, the politics just isn’t passing muster.
Here are some additional news articles and reactions from people (1, 2, 3).
Utter stupidity. India’s estimated total economic loss on July 5th = Rs.13,000 crores (which my brothers and sisters is appr. 3 billion dollars!). Reminds me of Nigerian football squad! Somebody should dismiss the Indian Goverment!
Its the Opposition + Left parties that called the strike. So, no use firing the government
Btw, the Nigerian government rescinded the order to stop the football squad from playing. Good move.