The Election Commission’s restriction on carrying cash above Rs. 50,000 has inflicted a blow on cattle trade in the district.
Sellers and buyers at the shandy in Karunkalpalayam, one of the biggest in the State, felt paralysed due the restriction.
According to the traders, a high-breed cow costs Rs. 60,000 to Rs. 70,000, and both sellers and buyers felt disappointed. The very continuity of the trade will be affected if the restriction continues, the traders apprehended.
According to local sources, as many as 1,000 heads of cattle are sold in a week at the Karunkalpalayam shandy which is well-patronised on a par with the one conducted at Oddanchathiram. Transactions in another shandy conducted at Anthiyur were also disrupted due to the Election Commission norm.
Buyers of cattle coming from all parts of the State and Kerala, Andhra Pradesh and Karnataka as well have been used to transacting in ready cash, and the Election Commission norm of Rs. 50,000 as limit is far removed from the realism of inflation.
Sellers bring cattle in hordes. And after the transactions, the sellers find themselves in a quandary since they are not supposed to carry the cash in excess of Rs. 50,000.
According to a regular seller, the Election Commission must consider their case specially and authorise the traders’ association to issue receipts for sale as verifiable document. Official sources said there was no scope for Animal Husbandry Department to issue such authorisation letters.
The norms will be effective for two more months and the traders can ill-afford to suspend their business for the duration.
Trade organisations said they expected a positive outcome from the Election Commission for doubling the permissible cash holding by the public to one lakh rupees without any need for documents.
