October 19, 2017 4:27:46 am
CITY JEWELLERS claim that this Dhanteras failed to sparkle their Diwali as they witnessed only about 40 per cent sale this time. Rajiv Sahdev, general secretary of the Chandigarh Jewellers Association, said that this time they witnessed sale worth around Rs 35 crore in the Tricity. Earlier, the sale during this period used to be worth around Rs 80 crore every year. “People preferred to buy only small silver and gold items. While silver coins were preferred for gifting, earrings or rings of less weight were bought among gold items,” Sahdev said.
Vinod Talwar, owner of Krishna Jewellers, claims that usually the jewellery is purchased with the money saved by women in the house. But this money is now blocked in banks. “Women usually save some cash in the house. But because there are restrictions, they don’t keep that money with them,” he said. The jewellers said that the government’s relaxation in purchasing jewellery up to Rs 2 lakh failed to attract buyers. “Although we had expected that sales would definitely drop, after this relaxation, we thought that sale would increase a little. But it did not,” said Sanjeev Kumar, another jeweller.
Earlier, on the sale of jewellery worth above Rs 50,000, the customer had to submit his PAN card but as per the new announcement made by the government, on the purchase of jewellery items worth up to Rs 2 lakh, the customer is not required to submit his PAN card details.
Anamika Bhalla, a resident of Sector 19, said that she had been saving money for the last two years to buy a necklace for her mother but after the demonetisation was announced last year, all her cash was deposited in the bank. Ravinder Verma, another jeweller, maintains the dismal sale this year has spoilt the festive spirit. “People came to shops, saw different designs and went back saying that they would think over and then come. This is what has happened with us,” said Verma.
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