Soaring prices, delayed salaries, pensions dampen Eid-ul-Azha rush across Kashmir

Ziraat Times Team Report

Srinagar, May 26: Markets across Jammu & Kashmir are witnessing a subdued Eid-ul-Azha shopping season this year as soaring prices, financial stress and delayed release of salaries and pensions have significantly weakened consumer spending, traders and livestock dealers said on Tuesday.

Usually bustling markets in Srinagar and other major towns remain relatively less crowded despite Eid approaching fast, with many shoppers limiting purchases to essentials amid rising inflation and shrinking household budgets.

Traders from major commercial hubs said customers are avoiding non-essential shopping due to high prices of clothing, footwear, food items and other Eid-related commodities.

“People are purchasing only what is absolutely necessary. Everything has become expensive and families are struggling to manage expenses,” several shopkeepers said while speaking to Ziraat Times, expressing concern over declining sales during what is traditionally one of the busiest business periods of the year.

Livestock dealers are also facing a difficult season, reporting weak demand and poor sales of sacrificial animals. Dealers said many families are either postponing purchases or opting for smaller animals due to financial constraints.

“Business is much weaker compared to previous years. Many dealers have invested heavily but sales are very slow, raising fears of losses,” a livestock trader said at Srinagar’s  Eidgah.

The subdued market activity has also triggered criticism over the delay in release of government salaries and pensions ahead of Eid. Traders and residents believe timely disbursement of salaries could have injected liquidity into the markets and improved festive spending.

Many people expressed disappointment that salaries and pensions were not prioritised before Eid-ul-Adha, saying the move has affected not only government employees and pensioners but also the wider business ecosystem dependent on festive market circulation.

“This money would have circulated fully in the markets and helped thousands of families and businesses celebrate Eid with greater comfort and happiness,” said a trader in Srinagar.

Business owners said the financial slowdown has had a cascading effect across sectors including retail trade, transport, food businesses and livestock markets.

Despite the slow start, traders remain hopeful that shopping activity may pick up during the final days before Eid as people traditionally make last-minute purchases.

However, concerns persist that inflationary pressures and economic uncertainty may continue to overshadow festive enthusiasm across the Valley this year.