Consumer confidence in India is at its highest level since mid-2019, a survey conducted by the Reserve Bank of India showed on Friday.
Consumers' confidence in their current economic situation has been on a path of sustained recovery, the central bank said, adding that sentiment on both the general economic situation and employment had improved.
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The 'future expectations index', which judges consumer sentiment for the upcoming 12 months, also improved to its highest since mid-2019, the survey showed.
The Indian economy is seen growing at a robust pace of 7% in 2024-25, the central bank said on Friday while keeping interest rates on hold as it waits for inflation to move to its 4% target.
A separate survey on household inflation expectations showed that consumers expect inflation to moderate from current levels.
The data also showed that capacity utilisation in the manufacturing sector increased to 74.7% in October-December 2023 from 74% in the previous quarter.
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"The prospects of investment activity remain bright owing to upturn in the private capex cycle becoming steadily broad-based, persisting and robust government capital expenditure, healthy balance sheets of banks and corporates, and rising capacity utilisation," central bank Governor Shaktikanta Das said on Friday.
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