35 lakh marriages will take place in the country in 2 months and Rs 4.25 lakh crore will be spent.
The wedding season will begin in India after the festive season. Marriage is considered to be the most expensive occasion in the country. Parents spend thousands of rupees to get their children married with pomp and show. Many times, people spend their entire life’s earnings on this and some even go into debt due to this. At the same time, according to some reports, people in India spend more on marriage than on education. In such a situation, when the wedding season is about to begin, as per estimates, 35 lakh marriages will take place in the month of November-December alone. The total expenditure on these weddings is estimated to be Rs 4.25 lakh crore.
A report shows that an Indian spends twice as much on his marriage than on his education. In the eyes of some people, this may be a wasteful expenditure, but the interesting thing is that this wasteful expenditure serves to provide a strong support to the Indian economy. In such a situation, let us know where people are going to spend these Rs 4.25 lakh crore…
There will be more than 35 lakh marriages
More than 35 lakh marriages are expected to take place in India between November and mid-December this year. It is estimated that around Rs 4.25 lakh crore will be spent on this. Approximately one million marriages are held in India every year. According to reports, this sector is the fourth largest industry in India. It is estimated that $130 billion will be spent on weddings this year and millions of employment opportunities will be created.
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Demand for gold will increase
According to a report, the government has reduced import duty on gold from 15 to 6 percent. This is expected to increase the demand for gold. Gold is very important religiously and socially in India. People also see it as an investment.
There will be strength in the retail market
Due to the increased demand for gold, there is also strength in the retail market. When people spend on weddings and festivals, the retail, hospitality, jewellery and automobile sectors benefit. All these sectors contribute to economic development.
Company profits will increase
With the increase in demand, the profits of the companies will also increase. This will increase the share prices of the companies. This will have a positive impact on the economy of the entire country. This wedding season in India is not only a time of happiness but is also important for the economy. The spending and increasing demand during marriage is beneficial for all sectors. This also creates new employment opportunities.
