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WEDDING EXTRAVAGANZA: HOW TO SPEND THE RIGHT WAY
The Morning Standard
|November 18, 2024
THE mother of all wedding seasons is upon us.
If you believe pundits (and we are talking priests and financial experts together), there are 30% more auspicious moments in the 2024-25 wedding season than ever. A report estimates that Delhi traders expect the wedding business to be worth ₹6,00,000 crore this season. That means households would spend that amount. That is a colossal sum.
The Reserve Bank of India released a report on the finances of municipal corporations in India last week. The data on cumulative annual revenue receipts for the latest year suggest that this amount is three and a half times more than the money major municipalities like those in Mumbai, Delhi, Pune, Bengaluru, and others earn. According to another RBI statistical set, the money is about 5% of the total household bank deposits.
This story is from the November 18, 2024 edition of The Morning Standard.
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