As the economic scenario and business environment of India have worsened in the past few quarters, a survey by National Council of Applied Economic Research (NCAER) shows that the business confidence index of the country declined by 15.3 per cent during the August-October quarter compared to the previous quarter.
“The numbers suggest a deep and all-pervasive worsening of business sentiments,” a statement by NCAER said.
The confidence index among business sectors fell by 22.5 per cent on a year-on-year (Y-o-Y) basis during the August-October quarter.
“NCAER’s Business Confidence Index (BCI), an indicator of business sentiments across Indian industry, stood at 103.1 in Q2 2019-20 continuing its volatile journey, falling by 15.3 per cent in October on a quarter-on-quarter (Q-o-Q) basis, despite a small reprieve in July 2019,” it said.
The fall in the index in the quarter ended October 2019 was driven by a deterioration in sentiments across the four components of the survey.