ith less than a week to go for Diwali, the mood among consumers is not so upbeat. Higher prices for consumer goods, that too without discounts/freebies, have dampened the festive spirit. The 5 million Central government employees might have got their first instalment of their salary arrears and some section of the people their Diwali bonus. However, these funds have not encouraged consumers to go for high-end shopping.
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The ongoing financial turmoil has also forced consumers to cut back their purchases and they are waiting for some good news on credit front.
From crackers to home appliances, these fast-moving goods are witnessing tepid sales on account of `costlier` Diwali.
Text: M.V. Amarnath