Festival ultimately grand and definitely interesting for starters (5)

I believe the answer is:

ugadi

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'festival' is the definition.
I don't know anything about this answer so I can't judge whether it can be defined by this definition.

'ultimately grand and definitely interesting for starters' is the wordplay.
'for starters' indicates taking the first letters.
The initial letters of 'ultimately grand and definitely interesting' is 'UGADI'.

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I've seen this clue in The Hindu.

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