LUCKNOW: The biggest congregation of humanity at the Mahakumbh in Prayagraj may also rake in mind-boggling revenues, even contributing one percent to the national GDP.
In terms of numbers, industry and UP government sources peg Kumbh revenues at anywhere between Rs 2-4 lakh crore.
Uttar Pradesh Chief Minister Yogi Adityanath calculates it this way: Each of the 40 crore expected people spending Rs 5,000 a head totals Rs 2 lakh crore.
Some say the per capita spending may go up to Rs 10,000, doubling the estimated revenue. The budget for the mega event is around Rs 7,500 crore. The state’s share came to Rs 5,400 crore and the Centre’s, Rs 2,100 crore.
A Mumbai-based chartered accountant, economist, and Chairman of UP Development Forum, Pankaj Gandhi Jaiswal, explains the links between culture and economics.
He said, “India’s economy is deeply rooted in cultural and festive traditions, driven by tenets of Sanatan economics. Unlike Western economic models, which often predict recessionary cycles, India’s cultural and religious festivals—such as local hats, melas, and the Kumbh Mela—continuously rejuvenate economic activity. Historically, mobile fairs and markets have driven India’s economic growth by integrating commerce, spirituality, and social interactions.”
The state government says the average expenditure per person visiting Mahakumbh could rise to even Rs 10,000, and the total economic impact could reach Rs 4 lakh crore. It is also expected to boost the country’s nominal and real GDP by over 1 percent.
Adityanath said the 2019 Kumbh contributed Rs 1.2 lakh crore to the state’s economy. Its footfall was around 24 crore, double than 2013. “Even with a 10 per cent adjustment for estimation risks, the Kumbh’s contribution of Rs 4 lakh crore to the economy remains extraordinary,” says Jaiswal.
Yogi describes Mahakumbhnagar as the world’s largest temporary city, which may accommodate devotees between 50 lakh and one crore at any given time.