The demonetisation of Rs 500 and Rs 1000 notes has hit the business of traditional bakers of the state. Vice-president of the All-Goa Bakers Association Joao Agostinho Gomes has told The Navhind Times that if the situation does not improve soon then they would be forced to shut down the business
Q: How are you dealing with the aftermath of the demonetisation of the high-value currency notes?
For the first two days there had been no problem for us as we had the change. However, the change exhausted soon after putting us into a tight spot. People refused to buy breads from our boys when they told the people that they were not accepting the demonetised notes of Rs 500 and Rs 1000. Now, although people have obtained Rs 2000 notes we are helpless, as we do not have loose change. This acute scarcity of change has affected our business.
Q: Up to what extant has your business been affected by the demonetisation?
Our business has been affected by at least 30 to 35 per cent… We cannot give back change when a note of Rs 2000 is given. From where will we get the change for Rs 2000 note? We have been forced to sell breads on credit.
Q: How are you getting raw material post demonetisation?
We have stopped accepting the demonetised notes. If we accept the notes then we can deposit them in the bank…. but then there is limit on withdrawals. We are in trouble in getting raw material because all are not accepting cheques…
Q: The central government says the decision has been taken to wipe out black money. Your comment
The decision and intentions are good. But instead of issuing the new Rs 2000 note the government should have first introduced new notes of Rs 500 so that there would be no trouble for the common man.
Q: How do you think the cash crunch should be solved?
The government should make Rs 500 and Rs 100 notes easily available in banks. Moreover, the government should immediately print more notes of Rs 50 and Rs 20 denominations. This would ease the situation.