Skip to main content

RBI survey: Consumer confidence on jobs, economic situation deteriorates

Consumer Confidence Indices
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."

Comments

TRENDING

Patriot, Link: How Soviet imbroglio post-1968 crucially influenced alternative media platforms

Adatata Narayanan, Aruna Asaf Ali Alternative media, as we know it today in the age of information and communication technology (ICT), didn't exist in the form it does today during or around the time I joined formal journalism at Link Newsweekly as a sub-editor in January 1979. However, Link, and its sister publication Patriot, a daily—both published from Delhi—were known to have provided what could be called an alternative media platform at a time when major Delhi-based dailies were controlled by media barons.

Morari Bapu echoes misleading figures to support the BJP's anti-conversion agenda

A senior Gujarat activist phoned me today to inform me that the well-known storyteller on Lord Ram, Morari Bapu, has made an "unsubstantiated" and "preposterous" statement in Songadh town, located in the tribal-dominated Tapi district. He claimed that while the Gujarat government wants the Bhagavad Gita to be taught in schools, the "problem is" that 75% of government teachers "are Christians who do not let this happen" and are “involved in religious conversions.”

60 crore in Mahakumbh? It's all hype with an eye on UP polls, asserts keen BJP supporter in Amit Shah's constituency

As the Mahakumbh drew to a close, during my daily walk, I met a veteran BJP supporter—a neighbor with whom we would often share dinner in a group. An amicable person, the first thing he asked me, as he was about to take the lift to his flat, was, "How many people do you think must have participated in the holy dip?" He then stopped by to talk—which we did for a full half-hour, cutting into my walk time.

Breaking news? Top Hindu builder ties up with Muslim investor for a huge minority housing society in Ahmedabad

There is a flutter in Ahmedabad's Vejalpur area, derogatorily referred to as the "border" because, on its eastern side, there is a sprawling minority area called Juhapura, where around five lakh Muslims live. The segregation is so stark that virtually no Muslim lives in Vejalpur, populated by around four lakh Hindus, and no Hindu lives in Juhapura.

Justifying social divisions? 'Dogs too have caste system like we humans, it's natural'

I have never had any pets, nor am I very comfortable with them. Frankly, I don't know how to play with a pet dog. I just sit quietly whenever I visit someone and see their pet dog trying to lick my feet. While I am told not to worry, I still choose to be a little careful, avoiding touching the pet.

An untold story? Still elusive: Gujarati language studies on social history of Gujarat's caste and class evolution

This is a follow-up to my earlier blog , where I mentioned that veteran scholar Prof. Ghanshyam Shah has just completed a book for publication on a topic no academic seems to have dealt with—caste and class relations in Gujarat’s social history. He forwarded me a chapter of the book, published as an "Economic & Political Weekly" article last year, which deals with the 2015 Patidar agitation in the context of how this now-powerful caste originated in the Middle Ages and how it has evolved in the post-independence era.

Caste, class, and Patidar agitation: Veteran academic 'unearths' Gujarat’s social history

Recently, I was talking with a veteran Gujarat-based academic who is the author of several books, including "Social Movements in India: A Review of Literature", "Untouchability in Rural India", "Public Health and Urban Development: The Study of Surat Plague", and "Dalit Identity and Politics", apart from many erudite articles and papers in research and popular journals.

New York-based digital company traces Modi's meteoric rise to global Hindutva ecosystem over several decades

A recent document, released by the Polis Project Inc.—a New York-based digital magazine and hybrid research and journalism organization—even as seeking to highlight the alleged rise of authoritarianism in India, has sought to trace Prime Minister Narendra Modi's meteoric rise since 2014 to the ever-expanding global Hindutva ecosystem over the last several decades.

Socialist utopia challenging feudal and Brahminical systems: Kanwal Bharti on Sant Raidas’ vision of Begumpura

In a controversial claim, well-known Dalit writer and columnist Kanwal Bharti has asserted that a clever Brahminical move appears to be behind the Guru Granth Sahib changing the name of the 15th-16th century mystic poet-saint of the Bhakti movement, Sant Raidas, to Sant Ravidas.