For the second time, people went on the negative side in the Future Expectation Index
This is the second time that India has turned negative in the Future Expectation Index. In this, their opinion about the economic condition, employment and earnings of people in a year is known. The last time Indians went on the negative side about the future was in May 2020, when the lockdown due to Corona was extended. In the survey conducted two months ago, consumers went on the negative side
people spending less on essential things
According to economists, it was because of the weakening demand that the Monetary Policy Committee decided to ignore the rising inflation of all things at the global level. According to the Reserve Bank, inflation will continue only if the demand is high. The Reserve Bank has said that people have reduced expenses. Not only are people spending less on non-essential things, they are also reducing the expenditure on essential things.
This survey was done in these 13 big cities
71 percent of the people surveyed said that they have increased their expenditure on essential things in March 2021, but only 63 percent have increased their expenses in May. The Reserve Bank conducted a consumer confidence survey between April 29 and May 10 in 13 major cities. These cities are Ahmedabad, Bengaluru, Bhopal, Chennai, Delhi, Guwahati, Hyderabad, Jaipur, Kolkata, Lucknow, Mumbai, Patna and Thiruvananthapuram.