The Puducherry Trader’s Federation has urged the Chief Electoral Officer and the District Collector to grant permission to businessmen and the public to carry cash of up to Rs. 3 lakh. In a press release, the Federation has said that in the past one week, sales in Puducherry had dropped by around 50 - 70 per cent, as buyers from neighbouring Villupuram and Cuddalore districts in Tamil Nadu were reluctant to shop in the Union Territory.
According to estimates trade transaction of around Rs. 80 crore-Rs. 100 crore happens daily in Puducherry.
Federation president M. Sivasankaran said that wholesalers were most affected due to the ceiling of Rs. 50,000 a day. “Traders have been calling up to say they are not coming over to buy goods due to strict action by the police. There are around 200 wholesalers in the UT,” he said.
Likewise families that come over to purchase gold jewellery for weddings are also putting on hold their shopping. “Puducherry has all the big names in the jewellery business and around 400 traders. People purchase large quantities of jewellery for weddings… when two sovereigns of gold costs around Rs. 60,000 how can the government restrict the amount to Rs. 50,000,” he asked. There is also a limit for withdrawals from ATMs, which is inconveniencing buyers, the release said.
