25 February 2004	Wednesday	04 Muharram 1425

NEW DELHI, Feb 24: Tens of millions of Indian workers went on strike on Tuesday in protest at a Supreme Court ban on strikes, shutting down government offices, schools and banks and hitting public transport.

Extra police were on the streets of major cities, but the impact of the one-day action varied across the country - hitting Calcutta and Bombay worst and barely affecting the capital, New Delhi.

"The response has been unprecedented. I don't remember when such a large strike took place in the past," said Indian trade union council secretary Dev Roy. "Our estimate is that between 40 to 50 million workers are on strike."

Economists say the impact of the strike would be limited and ports and airports were largely unaffected, although some trains were cancelled. The national strike involves mainly government and financial sector employees.

In the financial capital, Bombay, volumes were hit in the federal bond and the foreign exchange markets, with dealers from state banks, the dominant players, absent from their desks.

"The government banks should be out of the market for most of the day," said a treasury official at a leading state bank. "Some traders may be in, but back offices will definitely not be functioning." Daily foreign exchange turnover is estimated at $4 billion - almost 60 percent coming from state banks. -Reuters