The Economics Behind Ganesh Chaturthi
Although the average cost of idols has gone up, Sale of idols this year has seen a sharper
Ganesh Chaturthi marks the beginning of a long season of celebrations. And this year seems to have begun on a buoyant note.
Sale of idols this year has seen a sharper rise when compared to the past few years. The sale of large idols—more than 6 feet high—is up by 16 percent. Last year had seen an increase of 5 percent, while in the year before it had increased by 10 percent.
And although the average cost of idols has gone up—because of more expensive raw materials—it has not deterred neighbourhood organisations from celebrations.
The price of various raw materials—like plaster of paris and paint—has increased by 8 to 10 percent, pushing up the price of idols by 10 to 15 percent.
(This story appears in the 12 October, 2012 issue of Forbes India. To visit our Archives, click here.)
