Economics of Diwali

Diwali is an annual stimulus for the Indian economy. Indians purchase gold, gifts, decorations, crackers (fireworks) and household appliances during this festival and many Indian films (Bollywood, Tollywood, Kollywood, etc.) are released during this period. Companies offer huge discounts during the Diwali season to attract customers, which helps the economy and also helps the poor. Food distributed as acts of charity during community festivities also helps the underprivileged. Diwali also brings tourists to the country. Schools in India are closed during this festival, and many young people have the free time and the money to spend on luxury items. Also, people buy new clothes to wear during Diwali.