Households look to loosen purse strings ahead of festive season

Kolkata: IT professional Soumava Moulik was planning to change his car for the last couple of years, but he deferred his purchase because of budgetary constraints. Now that car models priced at Rs 10 lakh or less are likely to be cheaper due to the Goods and Services Tax (GST) rate revision, Moulik has decided to sell his existing car and bring home a new one this festive season."With the implementation of the GST rate revision, prices of several items, including cars, are expected to come down. We were waiting for such an opportunity when we could change the model of our car. Earlier, we were planning to do so but could not because of budgetary constraints. I hope that I will be able to reap the benefit of the GST revision. With the abolishment of cess under the new reforms, the tax burden will reduce considerably. This will help us buy a new car before Diwali," Moulik, a Beliaghata resident, said.Moulik is not alone. Many households across the city are looking to loosen purse strings in the run-up to the festive season. People are chalking out plans to make special festival purchases as the prices of two-wheelers and white goods like air conditioners, TVs, refrigerators, and washing machines are likely to plummet.Pratik Saha, a Baguiati resident and a corporate professional, who is set to install an AC in his house during the festival, said, "With the new GST regime, purchasing appliances like ACs has become simpler and more affordable. Earlier, the burden of multiple taxes and additional cess often pushed up prices, making us think twice before making a purchase. This festive season, I am planning to buy an AC as the price is likely to go down.""The price revision of ACs before puja means a lot to us. We were thinking about installing one at home for a long time, but the high price forced us to put our plan on hold. This weekend, we will start checking on AC models in our local electronics retail shops, and once the price dips in the wake of the GST rate revision, we will buy the AC to make our puja special this year," said Triparna Roy, a resident of Madhyamgram.Jadavpur resident Nawneet Lodha is planning to buy a refrigerator before Diwali. She said, "We need another refrigerator at home, but we have not bought it so far because of the price pinch. Now that the price of white goods is likely to dip following the GST relief, we are planning to bring home our second refrigerator."New Town resident Jayanta Kundu is equally excited as he has planned to install a new LED TV at home this festive season. "We have cherished for a long time to watch cricket matches on big LED screens at home. The GST rate revision has shown us a ray of hope now. We are waiting for the TV price reduction to fulfil the dream."Get the latest lifestyle updates on Times of India, along with Teacher's Day wishes, messages and speech !