Demonetisation shadow on wedding season
November 11 is considered one of the most auspicious days to get married this calendar year but the demonetisation of Rs 1000 and Rs 500 notes has eclipsed it since a lot of people are busy exchanging their notes. The wedding season is just starting and has traditionally been the reason why people amass a large sum of money for their daughters’ wedding.
But it is not just the families who are feeling the pinch. Caterers have been hit by mounting cancellations following the November 8 decision. Florists, wedding hall decorators, card printers, everyone has been hit in the season – the only season for the wedding industry.
The November 8 decision of Prime Minister Narendra Modi has come in for universal criticism and very rare praise, usually from his own partymen or allies.
Banks are overflowing with people who have been in the queue since the sun rose to get fresh notes issued to them upon surrendering the old Rs 4,000 for the new notes. It’s not as if the lines are not moving, it’s just that they are deathly slow and the population of India, well, has come to convert its old notes into new. Even Congress vice-president Rahul Gandhi joined a queue at the SBI branch on Parliament Street.
In Chennai yesterday, a man showed his friend’s daughter’s wedding card to allow him to draw more money than the Rs 2,000 but it is not known if the man did get the amount he wished to withdraw.
For those in Delhi and bracing for the baraatis hogging the roads, this is possibly one time the baraat will be meagre since most will be busy converting notes. But the rest of the wedding industry which includes a bewildering array of people from drummers, bands, light suppliers, banquet hall owners, genset owners, caterers, waiters and many others will have a bad season while black money is finding other ways to turn white.