Traders in Dehradun sounded worried with the volume of their daily sales having plummeted by about half following the Narendra Modi Government’s demonetisation move. “Things were worse for a few days after the Prime Minister announced the move on November 8. They have looked up a bit since then, but the volume of sale would not go back to the normal unless the Centre withdraws the withdrawal limit against ATM cards,” said a trader Gourav who has a shop at Indira Market. Most of the shopkeepers this correspondent talked to said that things would ease for the people and them after the new notes of the denomination of 500 become available here. However, one thing is clear that uncertainty is staring them in the face as they were found talking over the Centre’s next move in worried voices.
Arun Bisht, working in a mobile phone shop, Connaught place in Dehradun, said that the business has dipped substantially over the past few days following the demonetisation despite them accepting payment through credit or debit cards. “But the problem is that only those who have a dire need of things are turning up to purchase,” he said.
Jogendra Singh, owner of a garment shop at Paltan Bazaar, echoed the same despair, saying that the volume of sale has taken a dip by 60 per cent. “Receiving payment through credit or debit cards are not helping us much. Things would be better when the new notes come here in sufficient quantity. Cash-strapped as they are, the people are shying away from purchasing things,” he said.
Vinod, another trader who sells items required for wedding ceremonies from Paltan Bazaar, near Kotwali, vented annoyance, saying that they are in dire straits, given the fact that the demonetisation move has constricted those having weddings in their families from spending as much as they liked. “They are wary, buying things selectively, given the limited availability of cash. The marriage season continuing for three more months, things are unlikely to look up for us. We are at the receiving end of the move as we earn profits during these months which sustain us throughout the year,” he said.
Pravez, a trader selling shoes at Dhamawala, said that they were worried over the slowing down of the business following the demonetisation. “If the situation does not improve shortly those responsible for the drastic step would face the consequences,” he said.
Aman who sells electrical items at Karanpur, however, sounded optimistic that the markets would pick up the lost momentum once the new Rs 500 notes reach the people. “Though our business is presently feeling the pinch of the currency recall move we are sure that the Centre would do something to ease things for us,” he added.
Raju, an employee at a kitchen accessory shop at Dhamawala, said that the shop was looking deserted even at the hours when sale happened to be at its peak. “The sale here is down by nearly 50 percent,” he said.
As this correspondent visited Tibetan Market, Indira Market, Paltan Bazaar and those at Dhamawala and Karanpur he saw the same depressing scene of the buyers eluding the shops. The common refrain is that the demonetization move has left the traders high and dry, making it difficult for them to make ends meet, let alone earning profit.