Liquidity crunch in the wake of demonetisation has cast a shadow on Jamshedpur Book Fair this year.
The 32nd book fair at Rabindra Bhavan, Sakchi, which started on Friday with 70 stalls, will continue till November 20. But, for steel city residents, tired of standing in queues before banks, ATMs and post offices for valid currencies, buying books right now is not high on their priority list.
Also, sellers from Calcutta and other cities did not come prepared with wads of notes in smaller denominations and hence were hit badly when Rs 500 and Rs 1,000 notes turned invalid.
As sales are down to a trickle, sellers like Amalendu Das of Supernova Publishers and Distributors, Calcutta, feel demonetisation of Rs 500 and Rs 1,000 notes happened at the wrong time.
"On the first day we sold books worth Rs 750 only when it's usually Rs 20,000 or more. Sales have dipped drastically because people are hesitant to buy books when they don't have much cash in hand. We are bearing the brunt," Das said, adding he somehow managed to arrange a card swiping device at his stall.
Sellers, who have paid a minimum of Rs 5,500 for a 100sqft kiosk and Rs 11,000 for a 200sqft one, have said trade was down by 50 per cent this year.
"We are accepting Rs 500 notes. We will deposit them in our current account back home. But buyers are few," said Biman Choudhury from Choudhury Printers and Publishers, Calcutta, worried if he would be able to recover what he paid for the stall.
"Most customers are standing for hours in queues before banks and ATMs. People first need cash to make their ends meet. Only then can they think of visiting a book fair," he said.
Book lovers agreed. Lalit Kumar Singh, a Tata Steel executive who visited the book fair with his daughter Aditi Anand, a Class IV student of Jamshedpur Public School, said people were keeping cash for groceries and fuel. "I have come only because my daughter insisted. I have little cash and so I am asking if the sellers are accepting cards," he said.
But, that is not all.
Outstation sellers are facing problems in meeting experiencing a harrowing time meeting their daily food expenses as well. Many, like Das, are borrowing from The Tagore Society to survive their stay in the city.
