As much as 40 per cent drop has been recorded in sales in markets across the country due to low footfall of consumers because of cash shortages, traders body CAIT said today.
It said less footfall is there in markets because of cash shortage.
It also said that the slowdown is further multiplied by glitches in the Goods and Services Tax (GST), which kicked in from July 1.
"Confusion still prevails to a great extent which is more bothering to traders. Tax compliance of almost all taxes falls in this month only," it added.