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

GK Questions and Answers: Geographical Indications (GI) Tags in India

A geographical indication (GI) is a name or sign used on certain products like agriculture, machinery products, and sweets, etc. which relates to a specific geographical location or origin (e.g., region, or country or a town). We have published a set of 10 important GK questions and answers on the Geographical Indications (GI) Tags in India. This set of 10 important GK questions and answers on the Geographical Indications (GI) Tags in India is very important for exams like UPSC/PSC/SSC/CDS etc. 1. Which was the first Indian product to get the geographical indication tag? (a).Aranmula Kannadi (b).Darjeeling Tea (c).Katarni Rice (d).Madhubani Paintings Answer:- b Explanation:-  Darjeeling Tea was the first Indian product to get the geographical indication tag in 2004.  2. How many products got GI tags till now? (a) 361 (b) 729 (c) 624 (d) None of the above Answer:- a Explanation:-  Till date 361 products have been issued GI tag. The latest recipient of the GI ta...
Post a Comment
Read more

List of 14 famous Indian personalities who have tested positive for Coronavirus

The global pandemic has now infected 18,03,696 people in India and has so far claimed 38,135 lives, as per Ministry of Health and Family Welfare. In this article, we have listed famous Indian personalities who have been diagnosed with the virus. Amid the surging COVID-19 cases in India with a single-day spike of 52,972 positive cases and 771 deaths in the last 24 hours, India's COVID-19 tally has reached to 18,03,696 with 5,79,357 active COVID-9 cases and 38,135 deaths as per Ministry of Health and Family Welfare (at the time of writing this article). The deadly virus has not spared anyone-- rich, poor, aged, young, male, female, etc. Here's a list of famous Indians who have been diagnosed with COVID-19. 1- Amit Shah:  On August 2, 2020, Union Home Minister of India, Amit Shah, took to Twitter to reveal that he has tested positive for COVID-19 and is admitted in a hospital in Delhi.  2- SS Rajamouli:  On July 29, 2020, notable Indian filmmaker and his family have tested p...
Post a Comment
Read more

List of the 5th Generation Fighter Aircrafts

The beginning of the era of the 5th Generation Fighter Aircraft is attributed to the introduction of the Lockheed Martin F-22 Raptor in the US defence in 2005. There are many countries like India, China, Russia, Japan, Turkey, Europe, and South Korea are trying to build 5th Generation Fighter Aircrafts. Read this article to know the name of the Aircrafts developed/in development by these countries. As soon as we are having the scientific research and development in the field of medical, space exploration etc. the development in the field of defence technology is also getting momentum.  After the induction of Rafale (4.5th generation aircraft) in the Indian Air Force, everyone is wondering about the 5th generation of the aircrafts. In this article, we have listed the name of the aircrafts belongs to the 5th generation. What is the definition of the Fifth Generation Aircraft? There is no accepted or accurate definition of fifth-generation fighter Jet. But Lockheed Martin the manufact...
Post a Comment
Read more