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Good Sankranti sales help Andhra traders recoup demonetisation losses

After incurring a huge loss post-demonetisation, the Sankranti festivity has brought a relief to the traders who say that they have clocked good sales during the three-day harvest festival.

Published: 17th January 2017 03:19 AM  |   Last Updated: 17th January 2017 06:53 AM   |  A+A-

A file picture of huge rush during the Sankranti festival at Jagadamba Market in Visakhapatnam

A file picture of huge rush during the Sankranti festival at Jagadamba Market in Visakhapatnam

By Express News Service

VISAKHAPATNAM: After incurring a huge loss post-demonetisation, the Sankranti festivity has brought a relief to the traders who say that they have clocked good sales during the three-day harvest festival. Traders dealing in garment, liquor, essential commodities and restaurants registered good business.
As Sankranti festival is an occasion for new garments, get-togethers and drink and dine, the  textile, essential commodities, fancy, liquor, vegetables and meat businessmen did good business.

Post-demonetisation, the businessmen and traders in the city got worried about the Sankranti sales. Due to prevailing cash crunch in the moths ahead of Sankranti, the businessmen did not hope for much as the sales declined by 30 to 40 per cent in the run-up to the harvest festival. A BPCL petrol outlet owner said in the normal days, they register Rs 4 to 5 lakh sales. The sale has come down to 50 per cent after the demonetisation. However, between January 10 and 15, they have cloaked Rs 9 to 12 lakh a day.

“The sale figures this year is almost equal to the last year. In fact, we were worried that demonetisation would cast its spell on the Sankranti festivity too. However, people loosened their purse strings and enjoyed the festival well. Last year, we registered a turnover of Rs 72 lakh, and this time we managed   Rs 75 lakh,” said owner of a textile showroom in the city.

Kanuma, the last day of the Sankranti festival, is said to be one of the most important days for non-vegetarians and the tradition did not disappoint the meat and chicken shop owners this year. According to the reports, meat worth Rs 4 to 5 crore were sold during the Sankranti, while liquor sales touched Rs 9.5-crore mark.

“Yes, we have also received information about the good sales in all sectors. We did not expect that Sankranti might not bring cheers to traders. But, they did good business. Now, it is time for us to check the sale figures to collect taxes,” said an officer of Commercial Taxes Department.  Sankranti sales were good, but  not extraordinary. Some small shops may have recouped. But several establishments were in loss as there will not be further business after the Sankranti till next marriage, said owner of a textile showroom.



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