Similar is the case for buying household goods- LCD TVs, refrigerators, air-conditioners etc….for which you need to take cash out of your home. “Though it is desirable, we have a long way to go before we completely move away from the cash economy to cheques and plastic money. Here the credit penetration /acceptance at the merchandise is low while the retailers do not accept the cheques too happily, again for the fear of harassment by taxmen,” the Assocham Secretary General said.
The sale at the jewellery stores, especially in the unbranded outlets, has also been affected due the cash movement restrictions, the reports from the Assocham constituent trade bodies have shown.
The problems are also being faced for shoppers doing shopping for the weddings. “Women, mostly in the smaller cities go with cash to do marriage shopping….”
per the Election Commission guidelines, any private individual who
may or may not be a business person need to carry documentary proofs
when hetravels with more than Rs 50,000 in cash.He or she needs
to explain the legal source and end use of money. Frequent travellers
who are hopping in and out of big and metro cities day in and day out
are facing the problems even more since they are under a special
scanner at the airports, etc.
“Though more and more business executives in the organised sector use the credit cards, but still you need cash, what is the real worth of Rs 50,000? While the Election Commission’s intentions are noble and the Assocham would support the case for tough actions against use of illegal and unaccounted money for elections, the common citizens should not be facing problems in the process,” the chamber said.
Additionally, the Election process is being stretched to two full months increasing the woes of the businessmen.
“On a realistic basis, the limit of free cash movement during Election times should be raised to Rs five lakh,” Mr Rawat said.
Also the interceptors should be from the designated departments. “You cannot allow each and every police constable at every police check-post to carry out searches. In the process the unscrupulous are making hay….” the chamber said expressing concern.
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