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 4 times extra than its nearest rival Uttar Pradesh. As of March 25, of the overall of ₹143.47 crore seized across the country, ₹36.6 crore 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 cash-for-vote strategy as changed into allegedly adopted recently in RK Nagar in Chennai, and within the past in Thirumangalam byelection (2009) and Sathankulam byelection (2003). The ECI has ensured that its flying squads throughout the State carry out random checks of automobiles, consisting of -wheelers.
This has affected clients and cash-primarily based agencies in positive sectors, as an example in jewelry, electronics and wholesale markets including Koyambedu and Broadway in Chennai, and those in other components of the State.
Crunch in jewelry sales
Despite it being the marriage season, jewelry shops are seeing negative footfalls due to regulations in sporting coins.
Jewelry income has dropped by using 35-40 in keeping with cent ever because the model code of behavior got here 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 of real jewelry customers,” he instructed BusinessLine.
An individual who has saved ₹5 lakh over a time frame to buy jewelry will not be able to show the supply of coins. Nearly 60 in keeping with cent of jewelry buy takes place via coins transactions, he delivered.
It is not just the customers who are affected. Even if the goods are accompanied by using right files which are in accordance with the provisions of the Goods and Services Tax Act, officers are turning in the consignment to the Income Tax Department for in addition research, the Council instructed the CEO.
Jithendra Vummidi, Managing Partner, Vummidi Bangaru Jewellers, stated harassment by officials has been adverse to all corporations.
A flying squad at the doorway of Ritchie Street in Chennai, India’s largest electronics bazaar, is constantly monitoring the movement of humans. Sales are down by using 60-sixty five consistent with cent as human beings are involved approximately carrying coins, stated B Nimbaram of Shankar Electronics.
R Chandalia, Secretary, Chennai Electronics and Infotech Traders Association, too voiced a comparable challenge. “Harassment is a first-rate hassle,” he said.
But most traders are resigned to face this situation till April 18, when the State goes to polls.