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Over 50% Indians think job scenario getting worse; 75.9% expect prices to rise further: RBI

RBI Consumer Confidence Survey: About 25 per cent believe that their income has increased, while 53 per cent believe that it will increase in the coming year.

twitter-logo BusinessToday.In   New Delhi     Last Updated: October 6, 2019  | 11:31 IST
Over 50% Indians think job scenario getting worse; 75.9% expect prices to rise further: RBI
RBI Consumer Confidence Survey

The Reserve Bank of India's September 2019 round of Consumer Confidence Survey shows that 52.5 per cent Indians believe that the job scenario is getting worse, while 47.9 per cent believe that the overall economic situation has worsened.  As for the employment scenario in the next year, 33.4 per cent believe that it is going to be worse.

When it comes to the economy, 31.8 per cent believe that it will worsen next year while 53.2 per cent believe that it will improve in the coming year.

As for prices, 86.1 per cent believe that it has increased while 75.9 per cent believe that it will continue to increase next year as well. About 74.2 per cent respondents believe that inflation has risen, while another 77.9 per cent believe that it will continue to rise next year.

While most respondents believe that the economy growth is slowing down and jobs are at stake, 25 per cent believe that their income has increased. A total of 53 per cent believe that income will increase in the coming year. So respondents are more hopeful of their personal situation than of the economy.

Around 26.7 per cent believe that income has decreased, while 9.6 per cent believe that it will decease further in the next year. Around 37.4 per cent believe that income will remain same next year.

When it comes to spending, 74.1 per cent believe that it has increased and another 77 per cent believe that it will increase in the coming year too. Only 3.8 per cent believe that spending has decreased and 4 per cent believe that it will decrease further in the coming year.

While 83.8 per cent believe that spending on essential items has increased, 83 per cent believe that it will increase in the coming year.

Also read: RBI raises lending limit of microfinance institutions to Rs 1.25 lakh from Rs 1 lakh

Also read: No need to panic, Indian banks are safe and stable, says RBI

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