Onam overtures

Metro India News | Hyderabad

Onam is one of the very few festivals of 10-days celebrations. This 2,000 years old festival is celebrated globally by 7 crores people as a harvest, new year day, and mythological omen. It has several variations within the same State.

It has traditional dances, sports, floral decorations, boat races, rangolis, and grand feasts. Formally & informally, consumers spend Rs. 50,000 crs. The festival period receives huge NRI remittances. Families make yearly and long term financial plans. The flipside includes huge inward gold smuggling, liquor sales, and diluting tradition.

This festival sees more financial Chits, a credit system in Kerala older than banking in India. Courtesy Onam, Kerala is the only state that mandated festival advance by all public sector entities and followed by private for goodwill. Onam has highest single lottery prize money of Rs. 30 crs out of Rs. 125 crs distributed among 10 winners. As this beautiful festival devotes Gratitude Worship to the nature, every person celebrates Onam and wishes all others heartfully. 

-Dr. Kishore Nuthalapati

The author is the Regional Director of PRMIA, US for Hyderabad Chapter and also the CFO of BEKEM Infra Projects Pvt Ltd, Hyderabad. Views are personal and are not of any organizations he is or was associated with.