Industry body chief says lockdown will lead to another economic crisis
Adding to the chorus of dissent against the approaching week-long lockdown in Bengaluru Urban and Rural, the Federation of Karnataka Chambers of Commerce and Industry (FKCCI) has questioned the timing of the lockdown.
FKCCI president CR Janardhan said on Sunday that it was ‘not right’ to shut down industries which were still recovering from the effects of the earlier nationwide lockdown.
“The decision will again cause hardship to industries. Industries are not responsible for the increase in cases of infection. Positive cases have been reported in only a few industries,” he said.
The FKCCI chief felt a shutdown again of the private sector would lead to a state and Central economic crisis. In fact, the financial package under the Centre’s ‘Atma Nirbhar’ scheme would go waste, he said. Industries have taken all the necessary precautions for the workforce, Janardhan said, and urged the Chief Minister to keep industries out of the purview of the lockdown.
Janardhan noted that the imposition of a lockdown went against the government’s own efforts to attract outside capital to the state. He felt 20 per cent of private companies would have to shut down permanently.