90% traders see decline in business

New Delhi, November 25 

A survey participated in by 8,000 respondents has found that 90% of traders and small retailers across the country experienced a decline in the business post the demonetisation of Rs 500 and Rs 1,000 notes.

“90% of the traders and small retailers in 200 cities across the country experienced a decline in their business ranging from 0 to 90%,” according to a survey conducted by the Local Circles citizen engagement platform. 

Approximately 16% traders across the country are experiencing sales declines in the range of 60-90%. These include jewellers and those dealing in furniture and sanitary ware, among other items, the survey said.

It added that 28% traders are experiencing declines of 30% to 60%. These include traders in automobile, computers, mobile phones and garments. 

According to the poll, approximately 46% traders are experiencing sales declines in the range of 0 to 30% and these include general stores and prepaid recharge dealers and those dealing in items of essential use.

As per the feedback, traders and small retailers are struggling for two primary reasons — cash crunch and the clean-up of black money from the system. IANS