WHY IN NEWS ?

  • Recently , the Reserve Bank of India released the results of its consumer confidence survey.

ABOUT CONSUMER CONFIDENCE SURVEY :

  • The Consumer Confidence Index (CCI) is a survey that is conducted every two months.
  • It is conducted 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.
  • The survey studies the current perceptions of consumers or households on topics like economic growth, employment, income situation, price levels and inflation as compared to the previous year and also examines what are their future expectations.

FINDINGS OF THE SURVEY:

  • The percentage of people who felt their incomes had fallen went up slightly from 24.8 percent in July to 25.2 percent in September, according to a survey by the Reserve Bank of India (RBI).
  • The latest round of CSS survey was conducted across 19 major cities from 2 to 11 September covering 6,077 respondents.
  • While 3 percent of the respondents decreased essential spending in July 2023, this rose to 3.2 percent by September.
  • Similarly, 36.6 percent said spending on non-essential items had decreased in July as compared to 38.2 percent in September.
  • The RBI highlighted that overall consumer sentiments had improved and had reverted to trend.
  • The consumer sentiment towards the ‘general economic situation’ showed that 36.1 percent of the population felt the situation had improved, up from 30.4 percent in July.
SYLLABUS: PRELIMS ,CURRENT AFFAIRS