Retail, wholesale trade severely hit by demonetisation: CAIT

"The commercial markets wore a gloomy and deserted look," the CAIT said in a statement.

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New Delhi, Nov 14 The demonetisation of high-value currency notes has severely affected the retail as well as wholesale trade, the Confederation of All India Traders (CAIT) said on Monday.

demonetisation

"The commercial markets wore a gloomy and deserted look," the CAIT said in a statement.

"Since demonetisation, consumer footfall in the markets is very less in comparison to normal days. Not only the retail activities but even the wholesale trade is affected severely because of very low volume of transportation of goods," the statement added.

The confederation has urged Finance Minister Arun Jaitley to take remedial measures to intensify adoption of electronic payments system beside ensuring smooth flow of currency both at the hands of traders and consumers.

The CAIT has suggested special camp should be organised for filing Income Tax returns.

Similar special camps may be organised in the markets with the help of local trade associations for disbursement of new currency notes, it added.

IANS

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