Oct 3, 2023
Optimism on India economic situation improves: RBI survey
Optimism over India’s economic situation, employment and income for next one year has improved sharply, Reserve Bank of India (RBI)’s consumer confidence survey showed.
Future expectations index rose by 1.3 points to its two-year high of 116.2 points in January 2023. The current situation index also rose 1.3 points to 84.8 points.
RBI’s survey obtains current perceptions and one year expectations on general economic situation, employment scenario, overall price situation and own income and spending across 19 major cities.
The latest round of the survey was conducted between January 2- 11, covering 6,047 respondents.
The survey showed that 50.2% of participants expected the general economic situation to improve in the next one year.
Similarly, 51.8% of participants expected employment conditions to improve in the next one year. Around 83% of participants expected price situation to improve, and 80.3% of participants expected inflation situation to improve in the next one year.
Inflation expectation of households rose by 10 bps for three months ahead period whereas their one year ahead expectations remained unchanged from the November 2022 round of the survey, a separate survey showed.
Households’ inflation perception for the next one year fell by 20 basis points (bps) to 9.6% in January 2023.
More Details