India, Oct. 20 -- Best wishes to everyone on the joyous occasion of Diwali. There's something unique this time about the festival. On October 18, both the metals reported record prices in the Delhi market: Gold (of 24 carat purity) traded at a whopping Rs.1,31,800 per 10 gm while silver was available at Rs.1,70,000 per kg. The unprecedented surge saw jewellers struggling to meet the demand. They could provide gold and silver jewellery and coins only to those who had pre-booked their orders. In the absence of gold and silver, the common person was content buying brass and steel utensils to fulfil their festival desires. The government made a substantial cut in GST rates a month earlier, but since utensils weren't a part of it, people couldn't accrue its benefits. But it doesn't diminish the importance of GST rate cuts; the impact is visible in the buying spree. What does it mean? Are Indians becoming rich? Or, is our religiosity on the rise? According to one estimate, Indian consumers are expected to spend Rs.12-14 lakh crore - this includes marriage expenses as well - during this year's festival season. During festivals and marriages, the average Indian is unconcerned about his pocket but is driven by the grandness of his ambitions. It's no surprise that the sale of some specific products saw a massive spike. During this festival and marriage season, sales of fashion products are expected to double and the sales of decorative lights surge by 204%. Online buying has contributed to this shift in consumption patterns. Experts expect a 115% jump in online shopping this festival season. E-commerce has expanded beyond metros to tier 2 and tier 3 towns and villages in their vicinity. The option to make UPI payments through smartphones and e-commerce has changed our way of life and lifestyle. The growing demand in small cities, hamlets and villages makes up the "new Bharat market". It indicates the robustness and resilience of the Indian economy. This is the 25th Diwali of the 21st century. It means it's the silver jubilee celebrations of the current century. This quarter-century has been of utmost importance to India. The Indian economy grew at 6% in this period. It was ranked 13th globally in 2000; now it is the fourth-largest economy in the world. Government grants have enabled a rise in disposable incomes. People are no longer condemned to suppress their desires. That said, India is ranked 140th in terms of per capita income globally. It means we need to do a lot more. Many research organisations conclude that the pace at which India is growing could help double per capita income by 2030 (From $2730 to $4730). As we discuss festivals, let me recall a few things that continue to bother me. Increasing consumerism in the last few years has relegated the festival of Teej to an ostentatious celebration, while our culture was built around good conduct, mutual respect, human values and the market. Look at Dhanteras, which commemorates the arrival of Sage Dhanvantari. He's known as the god of medicine, and Dhanteras was considered a day of health and well-being. But now it has been reduced to a day of purchases. Our ancestors created festivals for the improvement of social well-being. But we seem to have forgotten this truth. The bursting of firecrackers also corroborates the same fact. The story goes that when Lord Ram returned to Ayodhya after 14 years in exile, the residents of the city lit lamps, sang songs, and gathered in large numbers to welcome him. This event marks the beginning of the Diwali festival. Today, the festival has morphed into simply bursting firecrackers and offering expensive gifts to people. For a few days around the festival, the air in Delhi-National Capital Region (NCR) becomes so toxic that it becomes difficult to breathe. People have forgotten that there were no crackers during the times of Lord Ram. It was Mughal emperor Babur, who introduced gunpowder to the Subcontinent. Crackers have come into existence since then. Why do we ecstatically use a foreign material introduced to us by a "foreign invader" while celebrating our ancient festivals? The United Nations has issued a warning that our environment is changing rapidly and things are about to spiral out of control. Why don't we celebrate our festivals in a manner that will ensure the well-being of one and all? That will be a fitting tribute to the lord of modal conduct....