Poll authorities aggravates genuine traders
Posted on: 15/Mar/2014 11:58:06 AM
Traders across the State are agitated over the drive by poll authorities to seize “unaccounted cash.” even before election heat picks up in Tamil Nadu.
What bothers traders more is the ceiling on cash that can be carried. At present, only up to Rs. 50,000 can be carried which, they say, is “extremely low.” Lack of clarity on supporting documents is another issue that exercises them.
President of the Indian Chamber of Commerce and Industry, Coimbatore, R.R. Balasundharam, says those in the jewellery and construction sectors are among the worst hit. Customers hesitate to visit showrooms and postpone purchase until elections are over, a gold jeweller in Chennai feels.
As on Wednesday, the total amount seized by officials all over the State was about Rs. 6.06 crore and the value of seizure in kind was around Rs. 42 lakh.
However, a member of one of the flying squads in Madurai explains that the money confiscated gets deposited with the Treasury only when persons concerned are not able to submit relevant documents. Chief Electoral Officer Praveen Kumar has gone on record more than once that the documents should explain the source of funds and usage.
The traders also raise the issue of enhancing the ceiling on the amount of cash to be carried. N. Sivanesan, president of Federation of All Trade and Industry Associations of Erode, and Mr. Govindarajalu suggest that the ceiling be raised to Rs. 10 lakh or at least Rs. three lakh.
However, an official explains that flying squads, headed by executive magistrates, go around areas cautioning people about the movement of cash before undertaking their operations. Before seizing cash, they make sure that the amounts were meant for bribery. As for the ceiling, it is part of the Election Commission’s guidelines which are framed after elaborate deliberations, the official adds.
