Kumbh Mela expected to boost India's GDP by over 1%

The Maha Kumbh Mela is expected to significantly boost India's economy, generating over Rs 4 lakh crore in trade. This event is projected to increase both nominal and real GDP by over 1% during the current fiscal year. The Uttar Pradesh government estimates around 40 crore visitors will attend, potentially spending an average of Rs 5,000 to Rs 10,000 each. This spending could lead to a total economic impact of Rs 4.5 lakh crore. The government's investment of Rs 16,000 crore in the Kumbh is anticipated to yield substantial returns, with GST collections alone estimated at Rs 50,000 crore. The event highlights the economic importance of cultural festivals in India.