Skip to main content

Consumer Confidence Survey by RBI: What is it and why is it conducted?

Consumer Confidence Survey by RBI: On June 4, 2020, the Reserve Bank of India released the results of its consumer confidence survey. The findings of the survey show that consumers are pessimistic about Economy and job recovery.

On June 4, 2020, the Reserve Bank of India released the results of its consumer confidence survey. The survey was conducted in thirteen cities on the economy, employment prospects, etc. 
The survey shows that Consumer confidence collapsed in May 2020. The Current Situation Index (CSI) in May 2020  has touched a historic low of 63.7 while it was 85.6 in March 2020.
Jagranjosh
Not only this, the people who were a part of this survey were also dejected about the coming year. The Future Expectations Index (FEI) also recorded a sharp fall in May 2020 to 97.9 as compared to 115.2 in March 2020. This index has fallen for the first time since the Modi's Administration tenure. 
What is the Consumer Confidence Index (CCI)?
The Consumer Confidence Index (CCI) is a survey that is conducted every two months to measure how optimistic or pessimistic the consumers are regarding their financial situation. The current index measures the change in consumer perception on the financial situation in the last year and the future expectations index measures what the consumer thinks about his financial situation in the coming one year. The main variables of the survey are-- Economic situation, Employment, Price Level, Income and Spending. 
Jagranjosh

How was the survey conducted?

Keeping in view the COVID-19 pandemic, the Reserve Bank of India conducted a survey through the telephonic interviews between May 5- May 7, 2020. The survey was conducted in thirteen major cities-- Ahmedabad, Bengaluru, Bhopal, Chennai, Delhi, Guwahati, Hyderabad, Jaipur, Kolkata, Lucknow, Mumbai, Patna, and Thiruvananthapuram. 
The survey was conducted across  5,300 households on the general economic situation, employment scenario, overall price situation and own income and spending. 
The report stated that the consumer perception on the general economic situation, employment scenario and household income plunged deeper into contraction zone while expectation on the general economic situation and employment scenario for the year ahead were also pessimistic. The report further added that consumers made a sharp cut in their spending keeping the COVID-19 pandemic situation in mind. 

Comments

Post a Comment

Popular posts from this blog

What is Necklace of Diamonds Strategy?

Necklace of Diamonds Strategy: China is increasing its presence in the Indian Ocean over the past few years through its Debt Trap Diplomacy and Strings of Pearls strategy to contain Indian hold in the Indian Ocean. Over the past few years, China is expanding its footprint in the Indian Ocean through its 'Debt Trap Diplomacy' and 'String of Pearls Strategy'. Recent satellite images have suggested that China has been modernising its Djibouti military base. Through its debt trap policy, China lures the strategically located nations around India to borrow infrastructural loans. Once the nations are indebted, China pressurizes them to support its geostrategic interests.  Through its String of Pearls strategy, China is expanding its footprints to contain Indian hold in the Indian ocean. It is creating a ring around India through strategically placed nations such as at Chittagong (Bangladesh), at Karachi, Gwadar port (Pakistan) and at Colombo, Hambantota (both in Sri Lan
Post a Comment
Read more

India's First Plasma Bank: All you need to know

To fight with the spread of COVID-19 pandemic, Delhi CM Arvind Kejriwal announced to launch India's first Plasma Bank in a city. Let us read in detail about it! COVID-19 cases in India are increasing and the tally crosses 5.4 lakh and deaths more than 16 thousand. In Delhi coronavirus cases are around 83,077 on 28 June, 2020. Total recoveries around 52, 607 that is roughly 63% recovery rate as compared to the national average of 58.5%. Therefore, on 29 June, 2020 (Monday) at a press conference, Chief Minister Arvind Kejriwal announced to set up a plasma bank to help COVID-19 patients in the city. It will be the first such bank in the country. About India's first Plasma bank - It will operate as a blood bank. - It will be set up in the Institute of Liver and Biliary Sciences (ILBS) hospital in South Delhi. - After the recommendation of the doctor, the patient can avail of the services. - Patients admitted to both the government and private hospitals can avail s
Post a Comment
Read more

GK Questions and Answers on Global Reports 2020

There are many global reports released by International Institutions every year. These reports are based on different aspects like trade, human resources, and economic and social development. These 10 GK Questions ans answers are based on the latest global reports released by the International Institutions. These questions are very important for various competitive exams like IAS/PCS/SSC/Banking and CDS etc. 1. Consider the following statement. I.  Human Development Index (HDI ) is released by the IMF. II. The Human Development Index rank of India is 129 in 2019. Which of the above statement is/are correct? (a) Only I (b)Only II (c) Both correct (d) Both incorrect  Answer: b Explanation:  Human Development Index is released by the United Nations Development Programme (UNDP). Indian rank was 129th among 189 countries in 2019. 2. Who releases the Global Competitive Report? (a)World bank (b)IMF (c)World Trade Organisation (d)World Economic Forum Answer:d Explanation:  Glob
Post a Comment
Read more