NCAER Survey: Business Confidence fell by 15%
According to National Council of Applied Economic Research, the Business Confidence of India dipped to lowest in six years. It fell by 15% between the period July and October 2019
- The Business Confidence Index dipped to 103.1 from 100.4 in October 2013. This is the lowest in the period of 6 years
- The survey reported that positive growth was witnessed in Managing Inflation, Managing Exchange Rate, Overall Economic Growth, pushing economic reforms, managing conducive political climate, managing government finance, external trade negotiations and managing unemployment
- The Business Confidence Index witnesses an upswing in the firms with annual turn over less than 1 crore rupees and other micro firms.
- The Political Confidence Index fell by 35.6% between July and October 2019.
- The Economic Growth rate declined by 5% in October 2019 as compared to July 2019.
The National Council of Applied Economic Research is a Delhi based think tank that was established in 1956. The aim of the body is to give support to both government and private sector economic researches. The TATA Foundation and other premier organizations came together to form the think tank with the support of GoI. It was founded in PM Nehru’s period. Since 1991, the council is tracking the business confidence in the country on a quarterly basis.