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By:

Correspondent

23 August 2024 at 4:29:04 pm

Festive Surge

India’s bazaars have glittered this Diwali with the unmistakable glow of consumer confidence. The country’s festive sales crossed a staggering Rs. 6 lakh crore with goods alone accounting for Rs. 5.4 lakh crore and services contributing Rs. 65,000 crore. More remarkable still, the bulk of this spending flowed through India’s traditional markets rather than e-commerce platforms. After years of economic caution and digital dominance, Indians are once again shopping in person and buying local....

Festive Surge

India’s bazaars have glittered this Diwali with the unmistakable glow of consumer confidence. The country’s festive sales crossed a staggering Rs. 6 lakh crore with goods alone accounting for Rs. 5.4 lakh crore and services contributing Rs. 65,000 crore. More remarkable still, the bulk of this spending flowed through India’s traditional markets rather than e-commerce platforms. After years of economic caution and digital dominance, Indians are once again shopping in person and buying local. This reversal owes much to policy. The recent rationalisation of the Goods and Services Tax (GST) which trimmed rates across categories from garments to home furnishings, has given consumption a timely push. Finance Minister Nirmala Sitharaman’s September rate cuts, combined with income tax relief and easing interest rates, have strengthened household budgets just as inflation softened. The middle class, long squeezed between rising costs and stagnant wages, has found reason to spend again. Retailers report that shoppers filled their bags with everything from lab-grown diamonds and casual wear to consumer durables and décor, blurring the line between necessity and indulgence. The effect has been broad-based. According to Crisil Ratings, 40 organised apparel retailers, who together generate roughly a third of the sector’s revenue, could see growth of 13–14 percent this financial year, aided by a 200-basis-point bump from GST cuts alone. Small traders too have flourished. The Confederation of All India Traders (CAIT) estimates that 85 percent of total festive trade came from non-corporate and traditional markets, a robust comeback for brick-and-mortar retail that had been under siege from online rivals. This surge signals a subtle but significant cultural shift. The “Vocal for Local” and “Swadeshi Diwali” campaigns struck a patriotic chord, with consumers reportedly preferring Indian-made products to imported ones. Demand for Chinese goods fell sharply, while sales of Indian-manufactured products rose by a quarter over last year. For the first time in years, “buying Indian” has become both an act of economic participation and of national pride. The sectoral spread of this boom underlines its breadth. Groceries and fast-moving consumer goods accounted for 12 percent of the total, gold and jewellery 10 percent, and electronics 8 percent. Even traditionally modest categories like home furnishings, décor and confectionery recorded double-digit growth. In the smaller towns that anchor India’s consumption story, traders say stable prices and improved affordability kept registers ringing late into the festive weekend. Yet, much of this buoyancy rests on a fragile equilibrium. Inflation remains contained, and interest rates have been eased, but both could tighten again. Sustaining this spurt will require continued fiscal prudence and regulatory clarity, especially as digital commerce continues to expand its reach. Yet for now, the signs are auspicious. After years of subdued demand and inflationary unease, India’s shoppers appear to have rediscovered their appetite for consumption and their faith in domestic enterprise. The result is not only a record-breaking Diwali, but a reaffirmation of the local marketplace as the heartbeat of India’s economy.

Judicial Overreach

In a democracy worth its name, the legislature makes the law and the judiciary interprets it. Occasionally, however, courts cross the boundary, entering the slippery terrain of legislating from the bench. By questioning and provisionally restraining key provisions of the progressive Waqf (Amendment) Act, 2025, the Supreme Court court has overreached, risking both judicial propriety and social progress.


The Waqf (Amendment) Act was meant to fix long-standing defects in the management of waqf properties. It sought to regularise waqf-by-user lands, allow non-Muslims to be appointed to Waqf Boards and the Central Waqf Council, and empower Collectors to address contested claims. These reforms, far from being whimsical, were grounded in extensive consultation, legislative history and public demand. The amendments responded to lakhs of representations from ordinary citizens whose properties had been wrongfully subsumed into waqf estates over the decades.


Yet the Supreme Court, barely days into hearing challenges to the law, signalled that it might stay key provisions. After red-flagging concerns over the inclusion of non-Muslims and the treatment of waqf-by-user, it extracted an undertaking from the Centre not to make new appointments or change the status of waqf properties until further notice. It also hinted at staying powers granted to district Collectors.


This approach turns constitutional practice on its head. The Indian judiciary has long recognised that Acts of Parliament enjoy a presumption of constitutionality. Courts may strike down laws, but only after thorough hearings and detailed findings not on the basis of preliminary readings or speculative harms. A stay at the threshold, absent compelling urgency, amounts to a veto on the legislature’s authority.


By pausing the operation of duly enacted law, the Supreme Court has effectively frozen reform without adjudicating its merits. Worse, it risks encouraging frivolous petitions against any legislative act in the hope that an interim stay will halt implementation. The line between judicial protection and judicial usurpation thus grows perilously thin.


The specific reforms under attack are hardly radical. Including non-Muslims in waqf bodies does not erode religious freedom but strengthens secular governance. Subjecting waqf-by-user claims to scrutiny protects the rights of millions whose lands have been swept into waqf registers without due process. Empowering district authorities to address disputes helps unclog courts and prevent endless litigation. These changes align with both constitutional principles and good public administration.


One would expect the Supreme Court, custodian of both democracy and federalism, to respect the will of Parliament unless and until compelling constitutional violations are demonstrated. Instead, it has acted precipitously, intruding into the legislative domain with neither the full benefit of arguments nor the weight of a final judgment.


There is a grave risk here. If courts treat legislation as mere suggestions to be suspended at whim, India’s hard-won separation of powers will erode. Parliament, flawed though it may be, remains the people’s voice. Curtailing its authority on tentative grounds insults not just lawmakers but the democratic process itself.

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