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Pessimism Related To Income And Expenditure On The Rise: RBI Survey

The rise in prices of various household commodities has also upset many.

The level of pessimism is increasing among people of the country regarding budget, income and expenditure, according to a Reserve Bank of India (RBI) survey.

The RBI Survey on Consumer Confidence in March and May 2018 on Present Situation Index covered major cities like Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai and Delhi and concluded results based on views of 5,077 people, GoNews reported.

The highlights from RBI report on Consumer Confidence Index says:

1. The level of consumer confidence in May 2018 was almost similar to that in March 2018; while the current situation index (CSI) slid down by one point into the pessimistic zone, the future expectations index (FEI) showed a marginal uptick.

2. The proportion of households expecting their spending to increase in the next one year remained almost unchanged from the previous round.

3. As regards spending on non-essential (or discretionary) items, households’ responses shifted towards similar or lower levels of expenditure, possibly reflecting pessimism on the perception and outlook on prices, the report said.

According to the GoNews report, 48 per cent people have said that the situation has deteriorated. The rise in prices of various household commodities has also upset many, the report suggested.

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