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Anticipations for this festive season's trade have skyrocketed, expected to surpass five lakh crore rupees, as brick-and-mortar markets thrive like never before. This Diwali embodies a heartfelt Swadeshi celebration, where the virtues of Indian craftsmanship take center stage. Inspired by Prime Minister Modi's push for local product patronage and favorable GST changes, domestic trade is flourishing.

An additional policy rate cut is expected before year-end, alongside recent GST simplifications indicating that peak fiscal consolidation is behind us. These factors, combined with domestic regulatory easing, are likely to foster a gradual recovery in credit demand, said a report by Goldman Sachs.