Diwali: 40 per cent drop in sale due to cash crunch

Diwali is a festival which is grandly celebrated all over India but this Diwali the sales have dropped and the markets have a deserted look.

Traders body CAIT said that atleast 40 percent of sales have been dropped due to cash shortage and mid year implementation of GST.

With just 3 days for Diwali, “markets across the country are gloomy, having a deserted look with very less festivity and less foot fall of the consumers”, resulting in 40 per cent drop in sales in comparison to last year, Confederation of All India Traders (CAIT) said in a statement.

“Confusion still prevails to a great extent which is more bothering to traders. Tax compliance of almost all taxes falls in this month only,” it added.