In the glow of Diwali festivities, recession fades-boom rings, economic system boosted by festivals

- The whole world is crying recession but in India shopping mood is booming due to festive season.

- The growth of the economic system must be linked to the growth of the rural economy. Festivals boost the rural economy. Diwali purchases are also associated with bonuses

- 3000 crores worth of gold has been sold in the country during Karva Choth festival last week. Now the gold will be sold on Dhan Terse, which will be worth approximately 4000 crores.

- The President of the World Bank, David Malpass, has recently said that a global recession is coming, so be careful. The global growth rate has also been underestimated

The festive season of Diwali has started. The whole world is crying recession but in India shopping mood is picking up due to festive season. In the wake of satisfactory rains in Gujarat, people have thronged the markets for shopping. Now two markets are being monitored. One is the local markets and the other is the e-commerce market. As Diwali sale boards swing in local markets, e-commerce sites are also holding sales. A buying spree is being heard in every market. Talking about Ahmedabad, there is no place to step on Gandhi Road. Crowds of people are flocking to buy.

India's economic system is associated with festive shopping. For example, Durga Pujan has a turnover of 35,000 crores, while Navratri has a turnover of 40,000 crores. In these festivals, people buy indiscriminately.

The growth of the economic system must be linked to the growth of the rural economy. Festivals boost the rural economy. Diwali purchases are also associated with bonuses. Government employees have got bonus and employees of private companies will get bonus this week so more people will flock to buy. As many festivals as are celebrated in India are not celebrated abroad.

Festivals are considered as a boost to the economy. The question here is that while the whole world is stuck in the throes of recession, India is witnessing a boom in various sectors. Economic experts not only of India but of the world are scaring the world with a possible recession.

The President of the World Bank, David Malpass, has recently said that a global recession is coming, so be on the lookout. The global growth rate has also been underestimated. Inflation will increase, interest rates will increase, prices of daily consumption items will increase due to which middle class people will have difficult days.

There are reasons behind the World Bank warning the world. When the president of the World Bank says that many countries are buried under the mountain of debt and starvation has started there. The rich countries of the world are also in the grip of recession and the problem of providing help to the poor people is going to arise. Even developed countries are reeling from recession. The World Bank is considering allocating a special fund to help poor countries.

Recession has entered India. Inflation has increased. If the opposition leaders are heard, they will say that the Modi government is not aware of the problem of inflation and unemployment, but the other side of the coin is not understood. Indian economic experts and former Reserve Bank Governor Raghuram Rajan have consistently warned the Indian government that a recession would lead to higher inflation and higher unemployment. However, the situation today is that talks of recession are on paper. Every market is getting bullish signal.

Shopping is a normal thing in Diwali festivals, but the way Shravan festivals, Ganpati festival, Navratri etc. have been celebrated in a different way because the restrictions raised due to Corona etc. have left. That is why Diwali festivals are also being celebrated without the fear of Corona.

During the Karva Choth festival last week, gold worth Rs 3000 crore has been sold in the country. Now the gold will be sold at the age of 4000 crores. People have preserved the tradition of buying gold during Diwali festivals and Akshay Tritiya (Akhatrij). Because of this, the demand for gold is continuously increasing. Purchases of both gold and silver increase during festivals. People have been giving silver coins instead of sweets. During the festivals lakhs of families buy gold as flower petals if not flowers and keep them as an omen. It is intended to be used in an emergency when the time comes.

The custom we have started of giving village produce as gifts is also bringing red to the mouths of small producers including village cottage industries. Village producers are also getting a platform on e-commerce. It seems that after producing a product, who will buy it is no longer a problem. Every region or village has a specific product. For example, Charotar's Mathiya or Rajpipla's thick Mathiya etc. are sold biennially. It is also sold online.

Everything from Diwali sweetmeats to the sale of flowers and pujapa are associated with the rural economy. The current sales figures combine retail business as well as e-commerce business.

A global recession will sooner or later affect India

The festive boom in India does not allow the global recession to penetrate. So what about what the World Bank says about recessionary stocks? There is breath in the words of the World Bank. But he has tried to beat every country in the world with a stick. The economic system of Pakistan and Sri Lanka cannot be compared with that of India. India has become the world's fifth largest economy. India is on its way to becoming a five trillion dollar economy. India's weak forex is picking up again. Says that due to negative conditions such as Amas and eclipses etc. depression may strike more acutely. Market circles are saying that the grip of recession will be felt as soon as the festive season is over in India.