Bhubaneswar, Dec 6: One month has passed since the revolutionary step of demonetisation was brought into effect. Even though, the Government claims that the step will bring a massive change in the way our economy functions – curtailment of corruption, transformation into a cashless economy and curbing fake money – small businessmen are incurring heavy losses in their day to day transaction. Some of such vendors in the Capital that Orissa POST talked to explain the troubles they are facing because of the currency ban.
Ganesh Kumar Behera, who owns a small time cloth store in Jaydev Vihar, says that he is not being able to sell the products that he purchased from Kolkata. The total cost of his last purchase this past month from the West Bengal city was Rs11 lakh. “Usually I buy stocks every month, but most of what I bought this past month still remains unsold. There is a huge scarcity in demand in the market.” Some customers come to his shop with Rs2000 notes, but they do not buy products worth more than Rs400. As such, many a times he has to turn down their offer of buying his products because of lack of availability of change.
“I went to more than five ATMs but none of them notes of Rs100. The cash withdrawal limit of Rs 2500 is another big issue.”
Beetle shop owner Kulamani Daliarsingh responded with a similar opinion. He does not own a bank account in his name. Many customers who purchase from him in credit are not paying him because of the lack of cash flow. Earlier, he used to do business worth Rs5000 every day, which has seen a massive decline in recent times, he said. He is now counting on his customers with the hope that they would repay him his due at the earliest.
Sarat Chandra Sahoo sells sweets in his small shop in city. Despite the ongoing marriage season, he says, he is not making any profit. His business has seen a downward path since the demonetisation was brought into effect. “The change that I brought from a bank few weeks ago is now depleted, and even they do not have sufficient reserve of money with lower denominations.” He hopes the situation to change in coming days.
Fruit-seller Ajay Swain buys the products from the market in Ashok Nagar too retorts Sarat’s opinion. Even though he stands by the decision of the Prime Minister, he says that it has almost killed his business. “Customers buy one kilogram of apples that costs Rs120, but pay me with Rs2000. I do not have that kind of change to return to every single one of them. I am losing my business, money and customers at the same time,” he says. The whole-sellers decline to take the old currency notes anymore, he adds.
Suresh Pujari, a woolen-cloth seller near Exhibition Ground, says that he has never seen a situation similar to this in the time he was in the business since 1982. “This winter season, people prefer wearing old woolen cloths than new ones. My family is completely dependent on his business. He buys the products from Kolkata and Chennai.
S.K Sajid from Kolkata, another woolen-cloth seller, says that he arrived in city with a product worth Rs35,000, but because of demonetisation, most of his products remains unsold. “I don’t have any bank account and, as such, am having trouble surviving in city.