The festive spirit in Ranchi reached new heights this Dhanteras as reduced GST rates triggered a massive shopping spree across the city. Retailers reported record-breaking sales, particularly in jewellery and electronics, marking one of the most prosperous pre-Diwali seasons in recent years.
Gold Glitters Brightest
Jewellery stores across Ranchi witnessed unprecedented footfall as customers flocked to make traditional Dhanteras purchases. Gold and silver items emerged as the top performers, with many establishments reporting sales increases of 30-40% compared to previous years.
Electronics Market Booms
The electronics sector experienced a similar surge, with smartphones, laptops, and home appliances flying off the shelves. "The GST reduction has made high-value purchases more affordable," noted a local electronics retailer. "We've seen customers who were waiting for the festive season to make big-ticket purchases."
GST Impact: The Game Changer
The recent GST council decisions have played a crucial role in boosting consumer confidence:
- Reduced tax rates on several consumer goods
- Increased purchasing power among middle-class families
- Renewed optimism in the retail sector
Market analysts observed that the combination of festive enthusiasm and financial benefits created the perfect environment for robust economic activity. The sales momentum is expected to continue through Diwali and beyond, setting a positive tone for the quarter's economic indicators.
