How Indians see the economy?

  • Published
    9th Jun, 2021

GS-III: Economy

  • Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.
Context

RBI’s latest Consumer Confidence Survey shows public assessment of the current situation at its lowest, and expectations low. Unpacking the findings, including two peaks in consumer sentiment in the recent past.

Prelims question:

Consider the following statements regarding the “Consumer Confidence Survey”:

  1. The RBI conducts this survey about the current perceptions and future expectations of economy in all the capital cities of India.
  2. In the survey, RBI asks how many people currently perceive that the general economic situation has “improved”, “remained the same” or “worsened”.
  3. The Current Situation Index, constructed by the RBI based on the responses during the survey, maps people’s view of their current situation with respect to a year ago.

Which of the above statement(s) is/are correct?

  • A.
  • B.
  • C.
  • D.

Mains Question:

RBI has recently conducted its bi-monthly Consumer Confidence Survey. What are the key indices of the Survey? Why the Consumers’ confidence has slipped into the pessimistic territory? What is the way out from the present situation of the Indian economy?(250 words)

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