Maha Kumbh 2025 To Have Major Impact On Local Economy, Says Neelkanth Mishra — Here's How

Maha Kumbh 2025 will boost the local economy due to the massive influx of devotees over a period of 40-45 days, according to Neelkanth Mishra, chief economist at Axis Bank and part-time member of the Economic Advisory Council to the Prime Minister.

The Maha Kumbh Mela, held once in every 12 years, is scheduled in Prayagraj from Jan. 13 to Feb. 26, 2025.

Mishra, while speaking at the NDTV Maha Kumbh Conclave 2025 on Tuesday, said an estimated 40 crore visitors are expected to attend the Maha Kumbh Mela. If the estimated numbers are converted into unique visitors, it would add up to around 10 crore visitors, he said.

"If the per-head spending is estimated at Rs 10,000, then the overall spending adds up to Rs 1 lakh crore...This is around 0.3% of our GDP," Mishra explained.

"For the overall country, the (economic) impact would be of few tens of basis points. But for the local economy, there will be a much larger impact," he added.

This can significantly boost the income of the residents of Prayagraj, a city with a population of 17 lakh, the economist pointed out. This will particularly benefit the people involved in occupations like catering and transportation services, among others, he added.

"This will help if they use the surplus income prudently. For those involving in running a small business, the jump in income during the Maha Kumbh period should be used as an investment in their business. For others, this income can be added to the savings pool or for investment in children's education," Mishra further explained.

For the government of Uttar Pradesh, the event provides an opportunity to showcase the improvements made in the state's infrastructure. "There is a huge difference in the Uttar Pradesh now compared to 12 years back...The visitors will get to see the change in-person, rather than believing any word of mouth or media. If they like the state, they might visit again and maybe visit another destination in the state," he said.