Mood has changed, consumers bullish on economy: RBI
MUMBAI: There has been a huge change in public sentiment since the August monetary policy meeting of the Reserve Bank of India (RBI). People are less pessimistic about the state of the economy on all fronts and are optimistic about spending. When it comes to future expectations, consumers are optimistic about the economy, employment, income and spending. However, they are still wary of prices a year from now.
“Consumers reflected lower pessimism on the prevailing general economic situation, employment scenario as well as household income and expenditure…,” according to the central bank’s September 2021 round of the survey. The results of the survey in terms of future expectations is one of the most optimistic in at least with Covid-19 pandemic casting a shadow on consumer confidence. The current situation index is the highest since May 2020 and the future index is highest since November 2020, the survey data showed.
Overall, the consumer confidence index improved to 57.7 in September from 48.6 in July. Consumer confidence for the one-year ahead period also improved. The future expectations index moved to 107 in September from 104 in July. An index value above 100 is a sign of optimism.
According to the survey, consumers showed lower pessimism about the prevailing general economic situation, employment scenario as well as household income & expenditure. The current situation index (CSI) for September improved when compared with the earlier survey rounds conducted after May 2020. After the survey, there has been further easing of restrictions with places of worship being opened in Maharashtra. There have also been several rounds of increases in fuel prices following a rise in global oil prices.
why don't you tell the truth?? consumers have no money to buy .. economy is completely devastated due to corona and this time even tier 2 cities do not remain untouched..so there is a deep problem in the market that's need to be corrected before any talk of growth happens
When a History graduate is head of RBI, no wonder you will get such news all the often, happening since 7 yrs. These mdrcds have dest yed once a blooming indian economy.
Help Your Society
finaly India is emerging a strogn nation as we survived 1000 years foreign rule , we survived Csrona. we will do well as our funmentals are good.
It is a complete opposite picture being painted to placate the people.It is an irony that our leaders prefer to paint a rosy picture while placing the real issues under the carpet.
The only people who benefited most from covid was go nment, healthcare, fuel, educational institutions (schools/ colleges),it
Rest all took solid beating
I am general public and I say I will not spend but cut my expenses drastically rather I already have up to a level that I eat only once a day
while more money is being spent less quantity is being bought. because everything is expensive in last 2 years by more than 100%
WHILE RBI SAYS CONSUMERS ARE BULLISH IN REALITY THERE IS NO PURCHASING POWER WITH LARGE SCALE UNEMPLOYMENT among common man. Also the pandemic has not fully subsided and there is looming threat of power cuts due shortage of coal. Fuel and gas prices are sky rocketing resulting in inflation of food and vegetable prices. RBI IS LIVING IN AN UTOPIAN WORLD
Consumers are so bullish they want Petrol @ 125 diesel @ 120 cooking oil @ 150 gas at 1250. Acche din aa rahe hein.
K Mohan Twincities
The economy has the reason to bounce back because losses need to be recovered
RBI has become a propaganda cell of bjp, far from ground reality these institutions can say anything to keep modi happy.
i still coukd not buy anything coz i need to save money as everything is super expensive these days and there is no job security !
Exactly opposite picture- go to villages and you will see 'booming economy'
The economy is not in any great shape as is being attempted to make out. Ever since that fateful demonetization the the economy is going downhill well before the pendemic set in. The biggest worry is unemployment at record level. The demand is sluggish n people are hard pressed to cope up with unprecedented high prices of petroleum products n its cascading effects in prices of other commodities. Feku's make in India has turned out to be a big flop.
Really a good sign for all patriotic Indians.
false,, not true,,,it is going to worsen the situation,,, basic essentials commandities ,fuel,gas,etc,are very much high,, how comman man growth will be there,,,
There is no doubt that the Indian economy has made a V shaped recovery.
Dr Vidyadhar Yellutla
Another setback for Pappu piddys, forget about 2024, and plan for 2029.
look at RBI lying through their teeth. suddenly economists are experts in reading people's moods
mudiji shud rejjain
Due to cow slaughter ban, number of bulls has gone up. As per saffron logic, that means economy is bullish. But that is BS.
But the govt is bearish