1,000 crore business hit due to EC’s cash chase in State: Traders

According to the traders, who held a meeting in the city demanding that the amount be raised from Rs. 50,000 to Rs 3 lakh, from the time this restriction has been implemented, business worth Rs. 1,000 crore has been impacted. 

The Tamil Nadu All Trade and Industry Association Coordination Committee held a meeting in the city, protesting the cash restriction by the Election Commission. The committee consists of representatives of 50 leading chambers and associations, including 6,000 smaller chambers and trade associations, with a total of 21 lakh members. 

S. Rethinavelu, Senior President, Tamil Nadu Chamber of Commerce and Industry, said it is the smaller traders, who are seriously affected by this restriction. “Nowadays, traders have to buy agricultural commodities from agriculturists, who don’t accept cheques. 

Smaller traders, who go around collecting money, also accept payment in cash only. So, we are protesting to the Election Commission to raise the cash restriction up to Rs. 3 lakh,” he said. Rethinavelu added, “Around 95% of EC’s seized cash comes from general public and the traders. 

There are no clear guidelines and implementing officials interpret the rules in their own way. We suggest that an ID proof and a letter issued by a trade association should be enough.” Retrieving cash, pointed out Rethinavelu, is a big issue. 

“In order to retrieve the seized cash, the implementation officers ask us to prove ownership of money. A trader is made to run from pillar to post. Smalltime traders from the outskirts of Chennai or villages are clueless. 

Moreover, it takes 3-4 days to get the money back, which hampers trade,” he explained. Vikrama Raja, President of Tamil Nadu Vanigar Sangamin Peramaippu, said, “The EC has not given us a clear view ahead of the State Assembly election and we have been finding it very tough. 

The EC has also seized goods and money in Salem, from a trader who had appropriate documents. Hence, we have decided to call a strike opposing the restriction set by EC. On April 12, we are planning a protest in front of the Tiruchy District Collector’s Office (where the EC also operates). If we don’t get a fitting reply, we are ready to carry out our protest to the next level.” 

Advocate K. Elangovan said the code of conduct enforced by EC is applicable only to the candidates and not the common man. “The EC owes an explanation to the common man on why a cash restriction on Rs. 50,000 has been placed, which was not the norm followed before or after the election. 

The code of conduct applies only to the candidates. With this restriction, the traders are badly affected as they deal largely in cash, which they need to carry back home or to the bank. Getting the cash back is also a bureaucratic struggle. The EC should ponder on different ways to deter political parties from dispensing cash for votes and not harass the common man,” he concluded.