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- This Time We Will Spend 1.3 Lakh Crores On Diwali, The Biggest Festive Season Starts After Unlock
new Delhi12 minutes ago
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- Household goods, vehicles and gold worth Rs 1 lakh crore will be sold
- 30 thousand crores rupees will be spent on buying houses and land
(Anirudh Sharma) After the recession of the Corona era, the markets are returning brightly. Buyers are starting to arrive. Business in the market has reached 60 per cent as compared to Corona’s earlier. The situation will get better by Diwali. The Confederation of All India Traders (CAT) estimates that people have drastically cut spending in the last seven months, as a result, the common people in the country have a savings of about Rs 1.5 lakh crore.
1 lakh crore rupees will be purchased in a month from Navratri to Deepawali. This includes vehicles, gold and household items. At the same time, according to experts, about 30 thousand crore rupees will also be purchased in real estate. CAT estimates that from now till March 31, 2021, the market will move to Rs 2 lakh crore. The president of CAT, BC Bhartia, says that in the last seven months, people have purchased only the most important things, but people will spend on a big festival like Deepawali. In view of the demand for Deepawali, production work is going on in two shifts in the factories since last two months.
Electronic: Demand increased so people are in homes
Mitesh Modi, president of the All India Electronics Association, says that items like TV, tab, mobile are expected to sell 20 to 30 per cent more this year than last year in Diwali. As Corona is not ending, people feel that in the coming months, if they have to live with the means of entertainment at home, then they will want to spend on getting big TV.
Clothes: Now sale on festival will be good
V Mart CMD Lalit Aggarwal said that despite all the crisis, this time the sales of clothes will be 80-90% compared to the previous Diwali. The purchase of Deepawali has a significant impact on the sentiments of the villages and this time the harvest of the farmers has been good, it will be seen in the shopping of the cities. The government has recently brought LTC voucher scheme, its effect will also be there.
Gold: 80% of business as compared to last year
SK Jindal and Prithviraj Kothari of the Indian Bullion and Jewelers Association said that there will be great enthusiasm in the bullion market on Diwali. It may be that gold in weight is bought 70-80% this time compared to last year’s Deepawali, but this purchase in value is estimated to be more or less the same as last year’s Deepawali. People will buy gold only in the form of bars and biscuits, without making more jewelry.
Can also spend double online
The annual festival sale starts on e-commerce sites like Flipkart, Amazon, Snapdeal. According to consultancy agency Redshear report in September, on the occasion of 2020 Diwali, about 51 thousand crore rupees. There will be a purchase of more than Rs. 2, which will be twice as much as the purchase on Diwali in 2019