Truckers losing Rs 1,400 cr daily due to demonetisation

Truckers are losing about Rs 1,400 crore per day despite toll suspension at highways after the government's demonetization move.

"Since the decision has been taken and even as I speak we are losing Rs 1,400 crore every day," a transporter part of All India Motor Transport Congress told Business Standard.

Earlier this week, the truckers had said that the supply of essential food items like vegetables, fruits and milk will take a hit in the wake of currency crisis.

There are tens of millions directly and indirectly are associated with the sector. They say, there is scarcity of cash with the drivers, vendors, labourers and also the authorities.

The limit of Rs 10,000 withdrawal a day and a maximum of Rs 20,000 a week is minuscule and is paralysing the transport business. As much as 80 per cent of transport costs (fuel, toll payments, drivers' board and lodging, repairs, payments to loaders) are cash-based.

Meanwhile, Ministry of Road Transport and Highways has suspended toll collection on the national highways till November 24. This is the second time toll suspension has been extended after it was announced on November 9.

READ OUR FULL COVERAGE ON THE MODI GOVT'S DEMONETISATION MOVE