How Mumbaikars are planning to celebrate Diwali amid price rise and inflation

Diwali 2024 is around the corner and despite the economic challenges of inflation and rising prices, Mumbaikars are determined to keep the festive spirit alive. However, with inflation on the rise and prices of essential goods and services skyrocketing, many Mumbaikars are reconsidering how to celebrate the festival of lights this year. While economic challenges cast a shadow, the spirit of Diwali remains undiminished, as residents across the city explore creative and meaningful ways to celebrate within budget constraints.

The impact of inflation on Diwali preparations

The cost of living in Mumbai, already one of the highest in India, has been further exacerbated by inflationary trends in 2024. The prices of basic commodities such as vegetables, cooking oil, and grains have surged, and this has put pressure on household budgets during a time traditionally marked by indulgence. As one resident, Kavita Shah from Andheri, remarks, "Every year, we would shop for new clothes, gifts, and prepare elaborate meals, but this time, we are forced to cut down. Prices of even simple ingredients for sweets have almost doubled."

Statistics show that the cost of items such as ghee, essential for making traditional sweets like laddoos and barfis, has increased by nearly 20 per cent over the past year. The sharp rise in the price of gold and silver also means fewer families are purchasing jewellery as part of their Diwali traditions. Yet, despite these financial constraints, Mumbaikars are determined to keep the festival's joyous essence alive.

Opting for low-cost alternatives

To cope with the rising prices, many households in Mumbai are turning to more affordable alternatives. Local markets are filled with vendors offering discounts on imitation jewellery, budget-friendly gift items, and eco-friendly decorations. "We've chosen to decorate our home with paper lanterns and DIY rangolis this year instead of buying expensive decorations," says Neha Joshi, a resident of Dadar. She said that this not only saves money but also gives her family a chance to get creative as a family.

In a similar vein, families are choosing to make traditional sweets at home instead of purchasing them from shops, where the prices have spiked due to higher ingredient costs. Priya Deshmukh from Borivali said that preparing sweets at home has always been a tradition. "But this year it's also a necessity. It's cheaper, healthier, and brings the family together," she said.

As large-scale events become cost-prohibitive, some neighbourhoods have decided to pool resources for communal celebrations. Societies are organising small, intimate Diwali gatherings, where each family contributes a dish or takes on a specific role in decorating or organising entertainment, making the event festive yet affordable.

Sustainable and eco-friendly celebrations

Beyond financial concerns, many Mumbaikars are also looking to make Diwali 2024 more sustainable. There is a growing awareness about the environmental impact of excessive spending and waste during the festival. "Every year, we spend so much on firecrackers, but with prices increasing and concerns about pollution, we've decided to give them up this year," says Rajesh Gupta, a businessman from Malad. Gupta said that this year they are focusing on lighting diyas and lanterns to keep the celebration traditional but eco-friendly.

The rise in inflation has also led many families to rethink the need for extravagant purchases. Instead of buying new clothes, some Mumbaikars are choosing to re-wear outfits from previous years or purchase from second-hand markets. "It's a wonderful way to save money and minimise waste," says Ritu Mehta from Bandra. Ritu further said that for her Diwali isn't about showing off new clothes or gold, but it's about celebrating the true essence of the festival.

The role of community and togetherness

Diwali has always been a time for togetherness, and this year, the importance of community bonds is stronger than ever. Mumbaikars are finding solace in celebrating with neighbour, friends, and extended family in a way that transcends materialism. Housing societies are organising group activities like rangoli competitions, diya painting, and cooking contests to foster a sense of camaraderie.

"For me, Diwali isn't about how much I can spend; it's about the company I share it with," says Ankit Verma, a college student from Thane. "My friends and I are skipping the pricey night outs this year and opting for a potluck dinner at home. It'll be low-key, but it's the company that matters."

This sentiment is echoed by Anjali Sharma, a senior citizen from Vile Parle. She said that for her Diwali has always been about spending time with family. "Even though times are tough financially, having my children and grandchildren around is what makes it special. We've cut back on many things, but we're together, and that's what matters," she added.

Corporate and market adjustments

Local businesses and markets, too, are adjusting to the challenges posed by inflation. Many retailers are offering deals and discounts to encourage shoppers, while some corporate offices have scaled back their Diwali 2024 bonuses and gifts due to budget cuts. Yet, despite the economic pinch, the shopping spirit is alive, as people are still on the lookout for deals and bargains.

One shopkeeper at a popular Diwali market in South Mumbai explains, "We've tried to stock more affordable items this year because we know people are feeling the pinch. The market is still busy, but customers are more conscious of where their money is going."

Online shopping has also seen a surge, with Mumbaikars turning to e-commerce platforms for discounts on Diwali essentials, from clothes to decorations and household appliances. E-tailers have adapted by offering staggered payments and installment plans, allowing customers to spread out their expenses.

Mumbaikars speak about Diwali amid price rise

As Mumbaikars prepare to celebrate Diwali amidst these economic challenges, their resilience and determination shine through in their outlook.

"Diwali is about spreading joy and not about just spending money. Even if we can't celebrate lavishly, we can still light up our homes and hearts. The price rise has made us rethink our Diwali plans, but it has also reminded us what truly matters - being with family, staying connected, and appreciating the simple joys," Amit Patel, a marketing executive from Goregaon.

Radhika S, a housewife from Girgaon, said, "I believe this Diwali will be more meaningful because we're celebrating it with more thought and care. We're cutting down on unnecessary expenses and focusing on being together. Inflation may have increased prices, but it hasn't diminished our spirit. We're finding ways to celebrate within our means while making the most of what we have."

Embracing the spirit of Diwali

Diwali 2024 in Mumbai may be shaped by inflation and rising costs, but the festival's core values remain intact. As Mumbaikars adapt to the economic challenges, they are finding creative, sustainable, and community-driven ways to celebrate. By focusing on togetherness, simplicity, and the true spirit of Diwali, Mumbai's residents are proving that the festival of lights shines brightest during times of adversity.