As per the latest Consumer Confidence Survey (January 2020) conducted by the Reserve Bank of India (RBI) provides some important insights. As per the survey, the consumers have grown more pessimistic about the outlook in 2020. However, there is marginal improvement in sentiments for 2021.
· The consumers’ perception about the current economic is as worse as it was in 2013.
· The perception about on the general economic situation, price levels and household income has worsened as compared to the past year
· Most household believe that the employment conditions have deteriorated in past one year. However, the expectations on employment seem to have improved marginally for 2021.
· Most households perceived prices and spending having increased during the past one year and expect further rise in expenditure over the next one year.
· More households seems to have seen their income decrease in past one years than those who have seen their income increasing.
· More than 80% of the respondents have seen the expenditure on
· More than one third of the households have cut their discretionary expenditure in past one year. However, the number if household planning to spend on non-essential items in next one year is higher.