The culture, lifestyle of the people, their beliefs and festivals greatly impact a country's economy. It is true that the GDP of every country is made by the contribution of its agricultural and industrial production and service sector. But the customs, festivals, places of worship, and events that take place there all affect employment, production and happiness in the country. Starting from September till November, festivals in India make a significant impact on the economy. With the huge amount of buying and selling during this period, all small and big shopkeepers, manufacturing and service sectors look forward to these festivals. They make a big contribution to the livelihood of various people involved in it. Sometimes this contribution forms a major part of their consumption throughout the year. For the past two years, due to the pandemic, festivals in India have dwindled.
According to a study, this year Durga Puja in West Bengal has contributed over Rs 50,000 crores to the economy of West Bengal. If we see the size of the festival economy of India as a whole, it would be no less than Rs one lakh crore.
Festivals increase the community's pride and play a big role in deepening mutual relations. Festivals promote tourism and businesses and benefit from various associated events. Its effect is visible in both rural and urban areas. On the occasion of festivals, we must remember that the practice of buying new clothes, sweets and new household items has been there since time immemorial.
This story is from the October 23, 2022 edition of Organiser Weekly.
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This story is from the October 23, 2022 edition of Organiser Weekly.
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