According to the National Council of Applied Economic Research, business confidence in India has increased from the lows of the pre-pandemic period (2019–20) and the two years of the pandemic that followed. However, sentiments continued to wane sequentially in the first three quarters of this fiscal year (NCAER). When compared to the second quarter of the fiscal 2022–23 year, macroeconomic sentiment remained largely upbeat.
The NCAER-National Stock Exchange business confidence index (BCI) increased from 124.4 to 126.6 in the third quarter of 2022–2023.
The component “overall economic conditions will improve in the next six months” saw a rise in the percentage of positive replies, while the component “the current investment climate is positive” saw no change.
The think tank stated that the following statements about firms’ own conditions softened between the two quarters: “financial situation of firm will improve in the next six months” and “current capacity utilisation is close to or over the ideal level.”
