Tamil Nadu keeps to live up to its notoriety as a State that pioneered the coins-for-vote practice. Seizure of cash with the aid of the Election Commission of India (ECI) within the run-as much as the Lok Sabha elections in the State is four times more than its nearest rival, Uttar Pradesh. As of March 25, of the overall of ₹143.47 crores seized across the country, ₹36.6 crores turned into from Tamil Nadu, accompanied with the aid of Uttar Pradesh (₹8.26 crore), and West Bengal (₹6.Forty three crores), according to facts released by way of the ECI.
The State has been subjected to better surveillance to ensure there’s no repeat of the cash-for-vote strategy as changed into allegedly adopted recently in RK Nagar in Chennai and within the past in the Thirumangalam byelection (2009) and Sathankulam byelection (2003). The ECI has ensured that its flying squads throughout the State carry out random checks of automobiles with-wheelers. This has affected clients and cash-primarily based agencies in positive sectors, such as jewelry, electronics, and wholesale markets, including Koyambedu and Broadway in Chennai and those in other State components.
Crunch in jewelry sales
Despite it being the marriage season, jewelry shops see negative footfalls due to regulations in sporting coins.
Jewelry income has dropped by 35-40 percent ever since the model code of behavior went into effect, stated N Anantha Padmanaban, managing director of NAC Jewellers and chairman of the All India Gem and Jewellery Domestic Council. “We have approached the Chief Election Officer (CEO) to prevent harassing real jewelry customers,” he instructed BusinessLine.
An individual who has saved ₹5 lakh over a time frame to buy jewelry will not show the supply of coins. He delivered nearly 60 percent of jewelry bought via coin transactions.
It is not just the customers who are affected. Even if the goods are accompanied by the use of the right files, which are by the provisions of the Goods and Services Tax Act, officers are turning in the consignment to the Income Tax Department for additional research, as the Council instructed the CEO.
Jithendra Vummidi, Managing Partner of Vummidi Bangaru Jewellers, stated that harassment by officials has been adverse to all corporations.
Futile workout
A flying squad at the doorway of Ritchie Street in Chennai, India’s largest electronics bazaar, is constantly monitoring human movement. Sales are down by using 60-sixty five consistent with cent as human beings are involved in approximately carrying coins, stated B Nimbaram of Shankar Electronics.
R Chandalia, Secretary of the Chennai Electronics and Infotech Traders Association, voiced a comparable challenge. “Harassment is a first-rate hassle,” he said. But most traders are designed to face this situation until April 18, when the State goes to the polls.
