Bengal Durga Puja economic system this yr crosses Rs 45,000-cr mark: Stakeholders

 Despite the fact that the World Financial institution has downgraded India’s progress forecast to six.5 per cent for the present fiscal, enterprise actions surrounding West Bengal’s Durga Puja this yr witnessed a “sharp upswing” with estimated worth of the festive transactions “crossing Rs 45,000-crore mark” after the final two years of the COVID-19 pandemic.

All stakeholders, starting from retailers to hoteliers and restaurateurs, reported gross sales “greater than expectations”, whereas puja organisers have been ecstatic with the festive spirit amongst folks.

“The development is significantly better than anticipated. In our opinion, the puja economic system in Bengal crossed the Rs 45,000-crore mark if we examine this yr’s competition with that of 2019 when there was no COVID.

“Giant-scale pujas have been organised in districts this time. On common, the commercial expenditure has elevated by 45-50 per cent,” Discussion board For Durgotsab, an umbrella organisation of neighborhood pujas, president Kajal Sarkar instructed PTI.

Retailers and hoteliers skilled “30-40 per cent increased gross sales” in worth phrases throughout this puja interval as in comparison with that of 2019, exceeding their expectation of round 20 per cent progress.

Westin Resort normal supervisor Subhas Sinha mentioned the general progress across the competition could be 40 per cent.

“The room occupancy was 80 to 90 per cent and the eating places have been busy. The influence of the vacations will proceed for a number of extra days,” he mentioned.

Echoing Sinha, South Kolkata’s main shopping center Acropolis managing director Ok Vijayan instructed PTI, “Gross sales in each retail and meals shops have exceeded our expectations. These have been 40 per cent increased than 2019 and the momentum will proceed until Diwali.”

Based on stakeholders, retail accounts for 80-85 per cent of the entire Durga Puja economic system, and the meals and drinks sector has a share of round 7-8 per cent, whereas erection of marquees, decorations, lighting, leisure, promoting and others account for the remainder.

Jap Resort and Restaurant Affiliation secretary Sudesh Poddar mentioned the precise gross sales in the course of the Durga Puja competition have been “higher” than their estimated progress of 20-25 per cent, and the sector had seen an “improve of over 30 per cent over 2019”.

West Bengal GST commissioner Khalid Anwar mentioned, “The state’s Items and Providers Tax income has been steadily rising, and we count on that the festive months will present much more momentum. The cumulative progress within the present fiscal is predicted to be over 20 per cent.”