New Delhi, Nov. 21 -- The Indian economy and consumer behaviour are highly influenced by seasonality, whether it is the changing weather patterns or the festivals. Festivities not only lift spirits but also drive higher consumer spending, which in turn fuels lending activity across the country.

This year the government's GST cuts provided an additional push to the festive season, resulting in a double bonanza for consumers. Attractive festive discounts were offered by the retailer while also passing on the benefits of reduced tax rates. This has resulted in price drops across major categories such as consumer durables, home appliances, electronics and vehicles, as well as other lifestyle products. This not only boosted affordability but ...