Festive spending in urban India to drop 6% to ₹1.97 lakh crore amid inflation: Survey

Urban India's festive spending is projected to fall 6% to ₹1.97 lakh crore in 2026, with households budgeting an average of nearly ₹20,000 amid rising inflation and borrowing costs, according to a LocalCircles survey. While 57% of urban households plan discretionary purchases, 31% intend to avoid non-essential spending altogether.