According to the latest Consumer Confidence Survey by the Reserve Bank of India, 52.5 per cent Indians feel the job scenario is getting worse. About 47.9 per cent respondents feel that the economic situation, on the whole, has taken a turn for the worse. There is no optimism as far as the employment scenario is concerned as about 33.4 per cent believe it is going to weaken further.
About 31.8 per cent of those surveyed are of the opinion that the economy will deteriorate in 2020, but 53.2 per cent feel it will improve in 2020.
The majority feels that economy is growing very slowly and jobs will be threatened. However, about 25 per cent feel that their income has gone up, and 53 per cent are also hopeful that their incomes will rise in 2020.
Surprisingly, those surveyed are optimistic about their personal incomes but pessimistic about the economy as a whole. While about 26.7 per cent believe their income has dipped, about 9.6 per cent are sure it will go up in a year’s time. About 37.4 per cent are of the opinion that there will be no change in their income in 2020.
While spending seems to have increased for 74.1 per cent people, a good 77 per cent feel it will go up in 2020 too.