Wedding bells can ring now as bills become easier to pay
The government’s decision to allow a one-time cash withdrawal limit of Rs 2.5 lakh for wedding-related spending should come as a breather for India’s Rs 3.3 lakh crore marriage industry where bills are mostly settled on cash deals. Economic Affairs secretary Shaktikanta Das said on Thursday a member of the family, be it father or mother, can make a one-time withdrawal of up to Rs 2.5 lakh. The move follows several representations from the public to relax withdrawal norms for households celebrating wedding ceremonies.
According to the Marriage Services Report, quoted by online matrimonial service provider Bharat Matrimony, the marriage services industry in India was estimated to be worth Rs 3,29,000 crore in fiscal 2014, with catering, decoration, venue, gifts and photography accounting for approximately 61 percent of marriage services spends in fiscal 2014.
The government’s decision to allow a one-time cash withdrawal limit of Rs 2.5 lakh for wedding-related spending should come as a breather for India’s Rs 3.3 lakh crore marriage industry where bills are mostly settled on cash deals. Economic Affairs secretary Shaktikanta Das said on Thursday a member of the family, be it father or mother, can make a one-time withdrawal of up to Rs 2.5 lakh. The move follows several representations from the public to relax withdrawal norms for households celebrating wedding ceremonies. 
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