Sectors Badly Hit by Demonetization
4. Automobiles:
Automobiles is another sector that has been hit adversely by the demonetization move. Sales of automobiles are likely to go down 40-50 percent for the month of November. With no cash to spend this trend will continue for some time.
5. Air Travel and Eating Out:
Aviation sector has also been hit by the demonetization move, as foreigners coming to India are in a fix over note ban. Even Indians are a bit skeptic about traveling abroad right now. Eating out has also been affected as restaurants have witnessed a sharp decline in reservations.
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