{"id":209291,"date":"2022-10-03T20:36:42","date_gmt":"2022-10-03T15:06:42","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=209291"},"modified":"2022-10-03T20:36:42","modified_gmt":"2022-10-03T15:06:42","slug":"understanding-the-durga-puja-economy","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/understanding-the-durga-puja-economy\/","title":{"rendered":"Understanding the Durga Puja economy"},"content":{"rendered":"<p><strong>Source<\/strong>&#8211; The post is based on the article <strong>\u201cUnderstanding the Durga Puja economy\u201d <\/strong>published in <strong>The Hindu <\/strong>on <strong>3rd October 2022<\/strong>.<\/p>\n<p><strong>Syllabus: <\/strong>GS1- Art and Culture. GS3- Economy<\/p>\n<p><strong>Relevance<\/strong>&#8211; Impact of cultural activities on economy<\/p>\n<p><strong>News<\/strong>&#8211; The article explains the impact of Durga Puja on overall economic prospects of the state. It also explains future prospects for the West Bengal Economy.<\/p>\n<p>Durga Puja was recently included by UNESCO in its <strong>Representative List of Intangible Cultural Heritage of Humanity<\/strong>.<\/p>\n<p><strong>What are some facts related to the economy of Durga Puja?<\/strong><\/p>\n<p>It is not easy to estimate the true size of the Durga Puja economy. It has a <strong>multidimensional character.<\/strong>\u00a0 A large quantity of sales happens through the unorganised retail market.<\/p>\n<p>There are some estimates about the size of the Durga Puja economy. A <strong>2013 ASSOCHAM study<\/strong> estimated the size of the Durga Puja industry at \u20b925,000 crore. It is around 3.7% of West Bengal\u2019s GDP at that time.<\/p>\n<p>A recent<strong> study by the British Council <\/strong>estimates the size at 32377 crores. It accounts for around 2.5% of West Bengal&#8217;s economy.<\/p>\n<p>Durga Puja has been affected by socio-economic-political shocks. The 1943 famine in West Bengal had a negative impact on it. Recently the pandemic led to huge losses for the Durga Puja economy.<\/p>\n<p><strong>What are the future prospects for the Bengal economy?<\/strong><\/p>\n<p><strong>K\u2019-shaped post-pandemic economic recovery<\/strong> is envisaged by different experts.<\/p>\n<p>The people who were well-off could not spend due to pandemic restrictions. They might spend generously. It will also help people from the lower strata of society.<\/p>\n<p>It may boost the informal economy. The people from lower strata of society may avoid the formal sector due to GST related issues.<\/p>\n<p>The higher Puja sales may not be an indicator of a strong economy. Better sales compared to previous years may be a sad reflection of poor income of average Bengali.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source&#8211; The post is based on the article \u201cUnderstanding the Durga Puja economy\u201d published in The Hindu on 3rd October 2022. Syllabus: GS1- Art and Culture. GS3- Economy Relevance&#8211; Impact of cultural activities on economy News&#8211; The article explains the impact of Durga Puja on overall economic prospects of the state. It also explains future&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/understanding-the-durga-puja-economy\/\">Continue reading <span class=\"screen-reader-text\">Understanding the Durga Puja economy<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[263,10498],"class_list":["post-209291","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-gs-paper-1","tag-the-hindu","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/209291","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=209291"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/209291\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=209291"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=209291"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=209291"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}