[The darkest days are surely lurking upon the retail traders thereby transporting their business to spin around the whirling pool of water. ]
Kanpur: Although the Congress Party’s nascent politician, Rahul Gandhi leaves no opportunity in ridiculing the demonetization policy with acerbic terms and even went on saying a tremor would hit the House if he opens his mouth, yet he has hitherto not ranted his bold emotive sentences stroking the retail traders’ agonies.
His most reposeful tirades are often taken up as his typical clamours against the present government. In addition to this, his peculiar hatred for the currency ban sometimes remains so forceful as if favouring the cause of business dealers in an effective way.
Notwithstanding, the BJP leader Narendra Modi had all praise for note ban and even compared the poor with the lower denomination currency notes. Whereas the TMC leader Mamta Banerjee contradicted by saying that the country’s trade and development have been affected. A kind of fiscal crisis has been created in the country.
Demonetisation has jarred the retailers very much. The two opposite things are pulling each other in its full force. One is cash crunch and another is majorly miseries created by its impact. Though the government is making all-out efforts to increase the flow of the currency notes, there is still a quantity of shortage of the currency in the market.
These can be depicted like grey and purple that is mixed together with no constituent colour. That is why the retail business is being hard hit and the traders are bearing the brunt a great deal.
When the problem of old currency notes seems to be on verge of conclusion, the paucity of ample quantity of fresh cash lingers in the bearish market. So long as this scarcity is not removed within coming fortnight the condition is not going to improve as the market gazers point out gawkily.
When the employees are approaching the banks with their respective salary cheque they rarely find the cash in accordance with their expectations.
What to think of the poor’s pains the trading class have felt sickened as their sluggish trade has received a jolt within a month. Venting his annoyance one contractor said that ‘since the demonetization has been affected the labourers are not available. They seemed to have moved out to their respective villages. When a large chunk of them have returned to their homes, not only the work has been affected but also the shopkeepers are indirectly facing loss to their sale whatever small dealing it may have been.’
The darkest days are surely lurking upon the retail traders thereby transporting their business to spin around the whirling pool of water. They realise their harshly hit business dealings have been relegated at its lowest level in a period of over a month. It is only they who are ably managing the tough time.
The possibility of acceleration in their sale is bleak by far. They are desperately making efforts to get out of this overly complex position so long as the cash flow does not increase in the market. The customers are unable to withdraw enough cash despite the court’s indictment of the government. They do not know whom to turn to seek the patronage.
A habitual critic of the government’s business norms, the traders are more often overheard of saying about the bad trends of the business. This is because of their particular mentality. But demonetization has started a fresh discussion on this traders’ propensity. They are today not feeling at ease. They are looking at the enhanced cash flow in the market as it is only then the sale can get an impetus. For them, cash flow is the survival option to bring cheers on their sullen countenances.
If the retail business gets affected, the wholesalers are sure to face the brunt and in turn, it surrounds the manufacturers too. But oddly enough the malls businesses are making hay because of its already maintained cashless facilities.
Negative and slump sales are the disturbing the retailers very much. As one shopkeeper told that “the sale was not as much encouraging as it used to be a month ago. The purchasers were short of cash these days. Now, they were too tight-fisted to spend money on anything other than daily needs under such prevailing critical situation. Whatever they had arranged for daily needs was being spent by them very understandingly.”
Despite the wedding season, the sale is not picking up much in the anticipation. For a well-arranged shop owner pointed out, “Our sales were down up to 40 percent. Transactions in cash were not speeding up sufficiently. Both the bulk sellers and the retailers were hard hit due to their dealings are largely done in cash.”
Replying a query on the market trends, another trader stated, “The sale will revive only after the people will be able to secure the cash in ample quantity.” On the digital trading, he said that this change will take a time to materialise.
We will not suddenly change to another mode so long as our liabilities are not cleared to the wholesalers who pressurise us to initiate payments within stipulated days. We are not totally indifferent to the schemes open for non-cash payments.
“Once the liquidity crunch gets over, the situation will start improving”, said a shopkeeper adding that as regards me it will be too early to presume anything as of now. Just in contradiction to this unacceptable situation the cashless retail selling at the malls are showing an upward trend.
There is a good hope in the modern organised business. There are discounts available there and the customers find cashless facility there. There remains ample crowd in the city’s malls here.
A consumer quite confidently upheld that we were flocking to the well-furnished stores with the facility of cashless payments. It was due to this reason this part of the commerce was able to be benefitted. The consumers are purchasing additional quantities of their everyday essentials from foods to fruits.