Live
- Govt plans to establish offshore Johns Hopkins University Campus in India
- Goa Aces clinch Indian Racing League title
- Study finds how hormone therapy can reshape the skeleton
- High-street fashion players looking at India for manufacturing: Report
- Shreyas Iyer to lead Mumbai as Prithvi Shaw returns for Syed Mushtaq Ali Trophy
- 'Failed to resolve crisis': NPP withdraws support from BJP govt in Manipur
- Chennai: Actress Kasturi Remanded in Custody Until 29th of This Month
- Aaqib Javed likely to become Pakistan's new white-ball head coach
- BJP panel to draft poll charge sheet against AAP govt in Delhi
- Allu Arjun Thanks Fans in Patna, Teases 'Pushpa 2' Release
Demonetisation dampens Christmas spirit
Though 24 hours still left for the commencement of birthday celebrations of Jesus Christ, there is no festive mood as is seen normally. The usual pomp is palpably missing and the people are staying away from buying new clothes and other essential commodities, YV Street, BKM Street , RKM Street, Sandya Circle, Koti Reddy Circle, RTC Bus Stand and Madras Road, which displays fabric shops, branded fa
Kadapa: The demonetisation move of Central government watered down Christmas celebrations, with the people confining themselves to prayers and participating in the spiritual programmes organised by the churches.
Though 24 hours still left for the commencement of birthday celebrations of Jesus Christ, there is no festive mood as is seen normally. The usual pomp is palpably missing and the people are staying away from buying new clothes and other essential commodities, YV Street, BKM Street , RKM Street, Sandya Circle, Koti Reddy Circle, RTC Bus Stand and Madras Road, which displays fabric shops, branded fabric showrooms and general merchants wore a deserted look due to lack of buyers.
Every year, Rs 300 crore business used to be done during the Christmas and Sankranthi. Cash-strapped public gave up the plans of shopping. D Anandamma of Maruthi Nagar told The Hans India that she used to spend Rs 30,000 on the occasion of Christmas.
“This time, I am shackled given limitations of Rs 5,000 imposed by banks and Rs 2,000 by ATMs,” she said. Another woman from Siyonpuram said that “Christmas is an annual event and in normal practice we invite relatives and newly married couple for feast. Sadly, this year, we had to break that tradition due to lack of cash in hand.”
"I have never witnessed such a pathetic situation in the last 15 years. The business came down like anything. With people flocking from the surrounding villages to have shopping fun at YV Street, I could easily generate Rs 15 lakh business last time around.
This time the story is entirely different and the business has not crossed even Rs 3 lakh since December 1 and it unlikely that there would be a swing in business tomorrow as the Christmas shopping closes by 24th evening itself, said N Bharath Kumar Reddy, who owns a readymade garment showroom at YV Street.
In the present scenario, people may continue to back out from the idea of acquiring clothes up to the Sankranthi festival due to shortage of money, Pedasubba Rayudu of YV Street opined.
Shops are impacted by dull market and are compelled to sell essential commodities on credit, said the General Merchants Association President G Venkatasubbaiah.
