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Spate of holidays this year to cost India more than Rs 27 billion!

The spate of holidays in the Indian calendar for the year 2000 will result in a loss of Rs 27 billion to the national exchequer, besides a host of invisible and incidental losses.

The All-India Association of Industries has said in a statement that even after a decade of liberalisation of the Indian economy, the government declares holidays without considering the colossal loss to the national exchequer. The loss is conservatively estimated at Rs 1 billion a holiday.

When compounded with mandays lost and decline in national productively, the loss is manifold. For the entire year, there are as many as 99 holidays including Sundays and non-working Saturdays.

The worst-hit sections are daily wagers, taxi, auto and transport workers, port and dock labour, restaurant workers and other labourers, the association's statement said.

The statement said that in the highly competitive global order wherein national boundaries are disappearing due to convergence activated by trade and commerce, India cannot afford to have so many holidays and non-working days.

In advanced countries, work continues non-stop even during the night as a result of which productivity has peaked to phenomenal levels, the statement said.

It is pertinent to state that the Finance Commission has recommended wage hikes for all sections of the government employees and even banks have announced a 12.5 per cent hike in wages for their employees, the statement said.

The wage-increase has been declared without considering the productivity of the workforce, taking into account holidays, admissible leave like privilege leave, sick leave and casual leave throughout the year.

Even the working hours are relatively less as compared to the other countries, the statement added.

It is, therefore, imperative that the government should refrain from declaring national and bank holidays without consulting captians of trade and industry.

Indian exporters will lose a whopping Rs 12 billion during April 2000, which has the highest number of declared holidays, as there are five Sundays in the month and two non-working second and fourth Saturdays.

The 12 holidays during the month are bound to negatively impact government works, banking, civic and conservancy services, stock and commodity markets, productivity in all sectors of industry and educational activities.

UNI

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