Economic Importance of Deepawali


Along with cultural importance in India, Diwali also has economic importance. A large part of India’s economy depends on the festival of Diwali. Diwali is an important festival for India in local market as well as global level. Many festivals are celebrated every year in India. But in all the festivals, Deepawali is celebrated as the main national festival. All the classes prepare for the deepawali festival according to their own accord. The business class makes its preparations on deepawali. So at the same time, the class involved in the construction of the object etc. gets busy in its preparation. Deepawali brings economic strength. There is no such class which does not become a part of it in some form or the other on Deepawali. Diwali festival works to give impetus to the economy of India. According to an estimate, there is a possibility of a business of about 2.5 lakh crore rupees on the deepawali of this year 2022 and if all goes well then this figure may also increase. The GST collection in the month of September is becoming a prime example of this. Which was 1.47 lakh crores. There has been an increase of 26% in the GST collection in September 2022 as compared to September 2021.

It is well known that Indian economy is also a festival based economy. Festivals that come from time to time in India work to strengthen the Indian economy and give impetus to India’s economy. Based on the Indian year of Vikram Samvatsar, which starts from the first date of Shukla Paksha of Chaitra month. Which comes in the month of April according to the English calendar. On the basis of which the financial year of India also lasts from April to March. According to Vikram Samvat, India’s festival tradition and agricultural system run parallel together. In which the seasons also have their own importance. The economy of India is an agricultural economy along with festivals. Along with every major festival of India, the crops grown according to the region have special significance. Along with the festivals, the agricultural produce coming in the mandis gives strength to the market by giving momentum. The time of Diwali is the time for the arrival of kharif crops in the market. Paddy, jowar, bajra, maize, soyabean, sugarcane, groundnut, urad, tuvar, jute, flax, cotton etc. are all kharif crops which are brought to the market by the farmers at the time of deepawali. After worshiping Lakshmi on deepawali, the day of Muhurta is fixed for the purchase of produce in the mandis. According to which the buying and selling of produce starts in the market from that day. At present, the contribution of agriculture in India’s GDP is about 3%. which is continuously increasing with the passage of time.

Not only does the sale of agricultural produce start on Deepawali, but the period of buying and selling of animals used in agriculture and animal husbandry also starts. Fairs are organized in many places of India for the purchase and sale of animals. Where farmers and livestock farmers from different areas come together and buy and sell. Due to the increasing animal husbandry in India, India ranks first in the world in the field of milk production. The price of various food and personal useful items is fixed in the market only after deepawali. All types of food items are obtained from agriculture. Due to which it has a quick effect on the sales on Deepawali. Along with the Deepawali festival, Vedic programs like marriage etc. also start in India. According to Vikram Samvat, Deepawali festival is celebrated on the new moon of Kartik month and its eleventh day i.e. Ekadashi date of Shukla Paksha of Kartik month is celebrated as Dev Deepawali. It is also known as Devuthani Ekadashi. From this day, the marriage Muhurta begins in India, which lasts till the beginning of the rainy season. The number of marriages that take place every year in India is more than one crore. Marriage in India is an important link in the economy. Due to which the economy of India is always in motion. About 4 lakh crore rupees are spent every year in marriages in India. From this we can infer that marriage in India is also a social and family celebration.

The festival of Diwaliis multifaceted according to the Indian market, which leaves its effect for a long time. In some regions, the festival of Deepawali provides so much income, that it covers half of the year in a month associated with Deepawali. Deepawali not only brings gifts to the farmers, as well as Deepawali also works to provide employment to the local people. All the classes do the preparation of Diwaliaccording to their own, in which the merchant class located in the market, keeping in mind the Deepawali, start getting the work of dyeing and painting of their establishment etc. done from the time of Shradh before Shardiya Navratri. Due to which the facilities of rojgaar etc. are available to the people engaged in the work of dyeing, painting and repair etc., which lasts till the day of deepawali. Due to the contact made during deepawali, the workers get work throughout the year. In addition to the merchant class, the process of preparing for the manufacture of goods such as hand-made archways, skirtings, artificial flower threads, which are sold in large quantities at the time of deepawali, etc., starts a few months before Diwali, due to which handicrafts The workers associated with etc. get rojgaar. Due to which all such workers who are associated with handicrafts etc. On deepawali all of them also get the availability of rojgaar. Deepawali is a matter of celebration and if firecrackers are not remembered in it, then deepawali will be considered incomplete. deepawali firecrackers business is also a major business of deepawali. Keeping the deepawali in mind, many cracker factories in India are produced in large quantities. And keeping in view the deepawali in the cities, temporary shops of firecrackers are allowed by the local administration. Looking at the market movement on Deepawali in the year 2022, the cracker business is estimated to be around 6000 crores.

Deepawali The demand for locally made goods is also high. Sweets made from milk are in high demand mainly on deepawali. Due to which farmers and livestock farmers get direct benefits from it. Apart from this, the business of clothes is also more on Diwali. Along with this, the purchase of material tools used by the family in homes is also done in large quantities on Diwali. On Diwali, there is a wonderful increase in the demand of gold and silver to vehicles etc. The deepawali festival acts as a booster for the Indian economy. Due to which the Indian economy remains active throughout the year.