Ahead of the Ram Mandir inauguration, the Jewellers, in Kanpur alone, have received galore orders for several 5,000 coins & similar artefacts depicting Ram temple and Ram Darbar (Ram with Lakshman, Sita and Hanuman) and 1,000 statues okof Lord Ram in different sizes. This inauguration doesn’t just have a very deep religious impact but also economic implications are galore here.
Ram Mandir inauguration
The Ram Mandir inauguration has caught the keen interest of all Hindu pious devotees worldwide and with it, a fresh opportunity for several businesses and investors across India is galore. The Rs 85,000 crore makeover is expected to transform the ancient holy city into a global religious hotspot, bringing with it a host of economic goodwill.
Post the statue of Unity, it is the most expensive public monument built in recent years, nevertheless, it also brings multifold benefits for UP like crossing Rs 4 lakh crore mark in state’s tourism by the year end and bolstering its finances by Rs 20,000-25,000 cr in tax revenue.
Once we were acclimatized with the Supreme Court’s landmark judgment in 2019 which allowed the proper construction of Ram Mandir, Ayodhya has seen terrific inflows of investment from both — central and state governments and thousands of donors have been available, across the country.
While the total construction was done utilizing 51.4% of the donations received, the trust is supposed touse the remaining amount for maintenance and other activities. For instance, ₹100 crore was allocated towards the 70-day ‘Ramotsav’ which commenced on 14 January and will go on till 24 March.
A significant portion of funds was also spent on building a ‘Time Capsule’ which will have a detailed history of the Ram Janmabhoomi and will be buried 2,000 feet under the Ram Mandir. The exercise is seen as an effort to avoid future controversies on various facets of the ‘Ram Temple’ history and serve an educational purpose.
What does Ayodhya set to gain from the Ram Mandir?
The Ram Mandir inauguration is set to provide a big boost to the temple town as the government plans to ramp up infrastructure including hotels, roads and railways, and promote holistic and sustainable growth. The government has prepared a report to develop the temple economy.
The Uttar Pradesh government has envisioned an investment of Rs 85,000 crore for the redevelopment of Ayodhya. The redevelopment would be done as per the Master Plan 2031 and will be completed over 10 years, according to the report prepared by the government.
The tourist footfall in the district has already increased from 0.6 crore in 2021-22 to 2.3 crore in 2022-23, it said, adding, “This surge in visitors will not only generate revenue for local businesses but also create employment opportunities, thereby stimulating the overall economy.”
Also, Several banking and financial services institutions are expanding in Ayodhya to cater to the booming business the pilgrimage center is set to offer.
Along with that, Data from the Ayodhya Development Authority (ADA) also has revelations like the UP government has been undertaking 187 projects in the beautification drive of Ayodhya, with a budget amounting to ₹30,570 crore.
“Since there is a large floating population in Ayodhya, we are also looking at, whether the current banks can serve the population efficiently. We believe Ayodhya is going to be a tourist favourite destination in the country. Last year 32 crore people visited Uttar Pradesh, UP, the majority of them visited Ayodhya and then Varanasi, Mathura and Agra,” Sameer Varma, Special Secretary, Finance Department, Uttar Pradesh government, had told ETBFSI earlier this month.