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Demonetization, GST Impact: About 49 percent Indians likely to spend less this Diwali, says survey

The Survey Conducted By News App In Shorts And Research Firm Ipsos Said Though 21 Percent Will Be Spending A More Over Last Year, 18 Percent Will Spend Same As The Last Year. Besides, 21 Percent Respondents Said They Were Undecided.

PTI | Updated on: 18 Oct 2017, 08:09:06 AM
About 49 percent Indians likely to spend less this Diwali, says survey

New Delhi:

About 49 percent Indians are likely to spend less this Diwali compared to last year due to demonetization and impact of GST, with expenditure on clothes and sweets to be the highest, says a survey.

The survey conducted by news app in shorts and research firm Ipsos said though 21 percent will be spending a more over last year, 18 percent will spend same as the last year. Besides, 21 percent respondents said they were undecided.

"Consumers are still reeling under the impact of demonetization and GST. The sentiment is not that upbeat this Diwali," Ipsos India CEO Amit Adarkar said.

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The survey titled 'Pulse of the Nation Diwali Poll' was conducted online on October 14. Over 39,000 Indians participated in the poll through InShorts mobile application. While clothes and sweets will see the highest spending at 38per cent, gadgets and gizmos will see 13 percent spending followed by home renovation and furnishing at 12 percent and automobiles at 3 percent, the survey said.

In terms of Diwali break, the survey said 55 percent of the respondents won't be working while 34 percent would be working. About 13 percent said they were not sure.

"Time zones, global client deliverable, essential services these factors take precedence over Diwali holidays," Adarkar said.

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First Published : 18 Oct 2017, 08:08:39 AM