November 18, 2016
Chennai: The Union government’s announcement to demonetise Rs. 500 and Rs. 1,000 currency notes has not only left private businesses in stagnation but has also affected the state government’s cash-rich TASMAC.
It is learnt that TASMAC, on an average, lost Rs. 20 crores per day between 8 and 15 November and around Rs. 15 crores per day between 14 and 15 November. The total loss is estimated to be over Rs. 150 crore. The 6,200 outlets across the state sell liquor worth Rs. 65 crores every day. On weekends, sales shoot up to Rs. 90 crore and during festive seasons such as Deepavali, Christmas and New Year, the sales reach a whopping Rs. 100 crores.
People wanting a drink refrained from buying alcohol as even TASMAC outlets did not accept the scrapped Rs. 500 or Rs. 1,000 notes. The stores also faced a problem in getting change for the new Rs. 2,000 notes flaunted by customers. A TASMAC official said, “Demonetisation is the main reason for the dip in sales. In addition, some varieties of liquor have gone off the shelves, which can also be attributed to the steep fall.”
Sources say, in Tiruchi liquor sales dropped by about 35 to 40 per cent. Coimbatore, which sells liquor worth Rs. 3.5 crores usually, saw a fall in business. Sales dropped by 25 per cent in Salem where there are 258 TASMAC outlets.