Hyderabad, December 1
The demonetization has had a drastic effect on food products and other essential commodities. There was around 30 per cent decline in food products sales, thus decreasing the income by around 45 per cent.
The public are purchasing essential commodities like dal, salt, tamarind, oils, soaps and other items limitedly after the big notes were scrapped courtesy non-availability of smaller currency.
There was around 30 per cent decline in the sales of ice creams, chocolates and other such items. The products supply to super markets from villages was also reduced considerably, thus making a hole of about 45 per cent in the income.
Not only the sales of essential items, luxury goods like soaps, body oils, creams also stooped to low, making the provisional stores owners to worry. Many people are not visiting any eateries as they do not have smaller currency notes.
Most of the villagers are ignorant of cashless or online transactions and they depend on cash payments only. After the demonetization, several markets wore a deserted look.