Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
Associate PartnerAssociate Partner
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

Over 50% Indians feel Job Scene Getting Worse as Consumer Confidence Drops to 6-year Low, Says RBI Survey

According to the RBI data, Current Situation Index (CCI) dropped to 89.4 in September from 95.7 recorded in the July round of survey.

News18.com

Updated:October 6, 2019, 12:20 PM IST
facebookTwitterskypewhatsapp
Over 50% Indians feel Job Scene Getting Worse as Consumer Confidence Drops to 6-year Low, Says RBI Survey
A Reserve Bank of India (RBI) logo is seen at the gate of its office in New Delhi. (Reuters Photo)

New Delhi: The Indian consumers' confidence in the overall economic situation and the employment scenario dropped to a six-year low in September, according to Reserve Bank of India (RBI)'s latest monetary policy.

Both the current situation index and the future expectations index recorded declines, the RBI said in its consumer sentiment survey report. The Current Situation Index (CCI) dropped to 89.4 in September from 95.7 recorded in the July round of survey, the RBI data, released on Friday, showed.

Of the total respondents, 47.9 per cent said the general economic situation had worsened and only 33.5 per cent thought the situation had improved. About 53 per cent expected the situation to improve in one year.

A total of 52.5% felt the employment situation had worsened and 33.4% said the situation would only get worse in the coming year.

“Respondents perceived an increase in the price level over the last one year and a majority of them expect prices to rise further in the coming year; as a result, sentiments on overall spending as well as essential spending remain strong, though sentiments on discretionary spending weakened,” said the survey.

The survey was conducted in 13 major cities, among 5,192 households.

On Friday, the RBI cut interest rates for the fifth time this year in an attempt to kickstart the slowing economy as it slashed the GDP growth projection for financial year 2019-20 to 6.1 per cent from the earlier forecast of 6.9 per cent.

RBI lowered its repo rate—the rate at which banks borrow from it—by 25 basis points to 5.15%. With this cut, the policy rates have come off by as much as 135 basis points so far this year to a nine-year low.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
Infosys 643.55 -16.19
Yes Bank 51.80 0.78
Bajaj Finance 4,034.15 -2.50
Reliance 1,414.15 -0.16
Indiabulls Hsg 218.00 -5.71
Company Price Change %Gain
Infosys 643.30 -16.21
Yes Bank 51.80 0.78
Indiabulls Hsg 218.20 -5.75
HDFC 2,115.95 0.98
Reliance 1,414.25 -0.07
Top Gainers
Company Price Change %Gain
Dr Reddys Labs 2,810.75 3.15
ICICI Bank 451.15 3.05
BPCL 534.10 2.65
Titan Company 1,329.45 2.22
Cipla 453.90 2.20
Company Price Change %Gain
ICICI Bank 451.15 3.06
Coal India 208.80 1.38
Power Grid Corp 204.50 0.96
Bajaj Auto 3,120.00 1.04
Hero Motocorp 2,671.00 0.95
Top Losers
Company Price Change %Gain
Infosys 643.55 -16.19
Tata Motors 131.75 -3.73
Bajaj Finserv 8,008.85 -3.11
HCL Tech 1,064.45 -2.83
Bajaj Finance 4,034.15 -2.50
Company Price Change %Gain
Infosys 643.30 -16.21
Tata Motors 131.90 -3.51
HCL Tech 1,064.45 -2.87
Bajaj Finance 4,031.95 -2.56
Bharti Airtel 370.85 -3.24

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results