RBI survey: Consumer confidence on jobs, economic situation deteriorates

Consumer Confidence Indices

By Rajiv Shah
Results of the Consumer Confidence Survey (CCS), carried out by the Reserve Bank of India (RBI) for November 2018, suggest that growing pessimism on general economic situation and employment scenario. Conducted in 13 major cities – Ahmedabad, Bengaluru, Bhopal, Chennai, Delhi, Guwahati, Hyderabad, Jaipur, Kolkata, Lucknow, Mumbai, Patna and Thiruvananthapuram - RBI said, "Future expectations index (FEI) also moderated due to lower optimism on the employment scenario and household spending."
Based on 5,326 responses on households’ perceptions and expectations on the general economic situation, the employment scenario, the overall price situation and their own income and spending, the survey results show, to quote RBI, that the current situation index (CSI) "declined further in November 2018 in a phase that commenced in November 2016, on the back of growing pessimism on the general economic situation and the employment scenario as also some cutback in spending."

RBI further said, "Current sentiment on the general economic situation dipped further into the pessimistic zone, while the outlook for the year ahead was broadly unchanged from the previous round of the survey." It added, "Sentiment on the employment scenario also deteriorated for the current period and for the one year ahead horizon."
According to RBI, "Notwithstanding a marginal improvement in sentiment, consumers remained pessimistic about the price situation... In contrast, respondents’ assessment on the income situation for the current year improved, and they also expressed optimism about their income one year ahead... There was moderation in sentiment on households’ spending with cutbacks expected in expenditure on non-essential items."

The making of a self-made woman: How eighty sheep changed everything for Kalawati Ninama

By Vikas Meshram* About forty-two kilometres from Rajasthan's Banswara district, in the tribal heartland of Ghatol block, lies the small village of Ubapana. This is where Kalawati Ninama, her husband Dhulji, and their four children make their home. Their days unfold much like those of their neighbours—bustling mornings, long hours of farm labour through the afternoon, and evenings spent tending livestock. For this family, farming and livestock were once simply a means of putting food on the table. Today, they have become the sturdy foundation of something far greater: genuine self-sufficiency.

India has spent billions on skilling. Where are the jobs?

By Vikas Gupta India loves the photograph of a certificate ceremony. A minister on a stage. A banner bearing the word “skill.” Young people holding folders that promise a future. It is a reassuring image because it tells us the problem has a manageable answer: train the young, make them job-ready, and work will follow.

BAPS, the Eiffel Tower and the curious silence on secularism

By Rajiv Shah I was a little surprised to see how some of those whom I respect for taking a firm stand on patriarchal issues reacted to the manner in which they responded to the recent incident in Paris, in which women employees of the Eiffel Tower were asked to remain "invisible" on September 5 when 100 BAPS sadhus visited one of the world's top tourist destinations.

Counterview

Search This Blog