Indian households less confident about economic situation: RBI

Indian households are less confident of their current economic situation as people are uncertain about their immediate income, employment and spending capabilities, a Reserve Bank of India (RBI) bi-monthly survey on consumer confidence said.

Current perceptions of households of their economic condition worsened in December 2016 with all expectations except price and level of inflation plummeting. The RBI monitored current situation index (CSI) which provides a gauge of households’ assessment of general economic conditions like employment, their own income and rpice situation declined sharply to 102.0 in December 2016 from 108.7 in November 2016.

This RBI survey captures households perceptions compared to a year ago and their expectations a year ahead on a three point scale, namely, improved, remained the same, worsened. 4,752 respondents were surveyed in six cities Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai and New Delhi.