It's official. But wait, it isn't, actually. The buzz in the market and everywhere else the past few weeks has been indicating a lifeless Diwali this year, attributable largely to a sagging economy. The media has devoted reams of paper, gigabytes of space, and hours of television prime time to bring home the impact of demonetisation and GST on the festive mood this season.
However, a dipstick conducted by Business Standard doesn't seem to capture any definite trend. About 55 per cent of some 200 respondents say it will be celebrations as usual. The 45 per cent who say it will be dullsville this year, blame the economy for playing spoilsport.
One must admit, however, that the sample size isn't big enough and that the state of the economy is the only metric used to estimate festive behaviour. Other factors, chief among which is the cracker ban
in the national
capital region and other parts of the country, have not been considered.
So let's move away from the cyber world and see what's really happening on terra firma. One Business Standard article
points to a buoyant stock market, indicating that the festival is likely to be well received this season. That sentiment is supported by this report
of heavy gold buying on Dhanteras day. But then, another report
says exactly the opposite.
And if the corporate world is anything to go by, Diwali will be quite bad this year, with companies slashing their annual gift budgets by a staggering 35-40 per cent. (Read more
Confused? Don't let the confusions and contradictions fox you. Only you know how much you have in your wallet, and the size of the hole you can burn. Soak in the news, alright, but don't let it dictate your Samvat sentiment. Happy Diwali.