Public perception about the state of the economy has been in the negative territory since the start of 2019 (pre-Covid) closely coinciding with the second term of the Narendra Modi-led government. Let's take a look.
The RBI has said that overall economic activity remains strong, with upbeat consumer and business confidence, and upticks in incoming high frequency indicators. It said the Omicron-led third wave of covid-19 is a flash flood. Mint takes a look.
Second wave of Covid turns Indian consumers pessimistic
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Second wave of Covid turns Indian consumers pessimistic
TNN / Jun 6, 2021, 04:57 IST
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MUMBAI: Consumer confidence in India has slumped to the lowest level since the Reserve Bank of India (RBI) started measuring it through surveys in 2016, while the consumer outlook on the economy and employment have worsened against the backdrop of the ravaging impact of second wave of the Covid-19 pandemic.
RBI’s Current Situation Index, which reflects responses of citizens to how they see themselves currently placed with respect to employment, prices, income, and spending compared to a year ago, has been negative (pessimistic) since July 2019. In May 2021, perceptions fell to an all-time low.