Shortage of money hits Xmas cheer

Hyderabad: he shortage of money has been a real kill-joy during the festive season, and many people are facing the prospect of a sombre Christmas-New Year celebration.

“With no money in our hands we are not able to buy anything, nor are we able to pay our workers. Lots of people visit churches and we offer them new clothes, shoes and cakes. We also give them alms, but how do we do it now,” asked Sister Anne of St. Mary’s Basilica.

Father Johnson D’Souza of St Cecilia’s Church said, “We are all facing the problem of demonetisation, but we haven’t come on a unified platform till now. However, we have decided to help the needy in our own ways by contributing individually.”

Mr Charles Dominic, a businessman and regular churchgoer, said he donated clothes and does a lot of charity every year, but there was less money this year. “It’s a very sad year for us. All these years we never faced this kind of situation. The most disturbing thing about demonetisation is we won’t be able to follow the tradition set by our forefathers.”

Mr Umakanth of Shraddha Extension said sales had plummeted this year by 60 per cent. “By now, we would have ordered our second lot of stock. But our store is still occupied with the first stock and it seems unlikely that we will be selling off these items.”

“Sales haven’t picked up,” confirmed Mr Kailash Jain at Cherma’s. “Usually shops and malls attract consumers by offering festive discounts, but this year it seems to be unlikely because people don’t have money to spend.”

Cash crunch defers annual parties
Demonetisation is impacting not only big parties that are a traditional Christmas and New Year feature, but also smaller community get-togethers. In many apartment complexes, residents pool in money for a celebration, but this year most of that money has had to be deposited in the bank.  
Mr Ramesh Raju, a resident of Bowenpally, says the annual get-together at his apartment complex was cancelled. 

“We are not going to have the annual get-together this year. The 120 flat-owners have decided to postpone it till issues settle as most of them are not in the mood. Also, our expenses every year are close to '50,000 and we are having issues procuring money from the bank.”

Family gatherings and other celebrations have been postponed till the currency situation eases. Mercy Fernandez, a home-maker, said she was buying just what was required for the festival. “No other expenses are being entertained as we are not sure when we may require the cash. Hence only prayer meetings are a priority for now,” she said.

On a more commercial level, event managers and pub-owners are very jittery. Mr Sunny Sharma, an event manager, said, “this year, till now, tie-ups for big parties have not taken place. Earlier, we would close the deal in November. But this year, it has been completely down.”