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The vote count is a week away but Rajasthan’s Pushkar animal fair is already counting losses — from election-time cash curbs.
Poll-related cash seizures have hit cattle trade at the November 20-27 fair, where transactions are largely in cash.
The cap on carrying Rs 50,000 in cash, imposed by the poll model code of conduct, kept many buyers from Punjab, Gujarat, MP and Maharashtra away.Fear of cash seizures hit deals for expensive horses and camels, used for polo by individuals and clubs.
Anupam Tandon was busy loading his unsold horses into a truck on Sunday. “Reports of cash seizures have caused buyers to panic. Due to liquidity concerns, even pre-deal agreements with purchasers were not used,” said Tandon, owner of Tandon Stud Farm in Ajmer and Chandigarh.
Tandon could sell three horses so far “because of contracts with the purchasers in advance”. “In Pushkar, I have to deliver the horses.”
Poll-related cash seizures have hit cattle trade at the November 20-27 fair, where transactions are largely in cash.
The cap on carrying Rs 50,000 in cash, imposed by the poll model code of conduct, kept many buyers from Punjab, Gujarat, MP and Maharashtra away.Fear of cash seizures hit deals for expensive horses and camels, used for polo by individuals and clubs.
Anupam Tandon was busy loading his unsold horses into a truck on Sunday. “Reports of cash seizures have caused buyers to panic. Due to liquidity concerns, even pre-deal agreements with purchasers were not used,” said Tandon, owner of Tandon Stud Farm in Ajmer and Chandigarh.
Tandon could sell three horses so far “because of contracts with the purchasers in advance”. “In Pushkar, I have to deliver the horses.”
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