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Business confidence in India recuperates from earlier lows: NCAER
28 Jan '23
1 min read
Pic: Shutterstock
Business confidence in India has recovered from the lows of the pre-pandemic times (2019-20) and the two years of pandemic that followed, though sentiments continued to soften sequentially in the three quarters of this fiscal, according to the National Council of Applied Economic Research (NCAER). Sentiments relating to macro conditions remained relatively buoyant in the third quarter of fiscal 2022-23 compared to the second.
The NCAER-National Stock Exchange business confidence index (BCI) was higher at 126.6 in the third quarter of 2022-23 than the year-ago's level of 124.4.
The share of positive responses increased for the component 'overall economic conditions will improve in the next six months' and remained unchanged for the component 'present investment climate is positive'.
Sentiments pertaining to firms' own conditions, however, softened between the two quarters for the following components: ‘financial position of firm will improve in the next six months' and 'present capacity utilisation is close to or above the optimal level', the think tank added.
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