During Ramzan, Muslims globally engage in fasting, prayer, and benevolence, marking a profound spiritual journey. Yet, beyond its religious essence, Ramzan catalyzes societal and economic shifts. Productivity decreases by 35-50% due to shortened working hours and focus limitations. The month also witnesses a commercial surge, with increased demand for commodities, reflecting higher consumer spending.In Kashmir, Ramzan significantly impacts the local economy. Food consumption rises, especially during Iftaar, leading to a surge in food expenditure. Fruit and date demand spikes, with over 30-70% increases, fueling substantial trade. Charity flourishes, as Zakat al-Fitr obligations bolster the local economy by circulating funds. However, inflationary pressures arise from amplified demand, triggering increased prices. Reduced working hours during Ramzan disrupt market operations, impacting productivity and GDP. While Ramzan uplifts subjective well-being, it correlates with lower GDP due to
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SRINAGAR: The Chamber of Commerce and Industry, Kashmir (CCIK), along with the Jammu and Kashmir Hoteliers Club (JKHC), expressed their condolences for the demise of Mrs Hajraa Bano, the mother of Dr Imran Nazir, who holds the position of Treasurer at CCIK and is a member of the Executive Committee.
SRINAGAR: Saifullah Qadri, a Selection Grade Constable (SgCT) of the Jammu and Kashmir Police, has been honoured with the Shaurya Chakra by the Ministry of Defence on Independence Day.