Another worrying sign of worsening economic situation in the country has emerged as per the RBI data. The consumer confidence across India has declined to a five-year low. According to the latest consumer confidence survey released by Reserve Bank of India, the current situation index fell to 85.7 in November from 89.4 in September, its steep decline since 2014.

Its is important to mention here that in the consumer confidence index, 100 is the dividing line between pessimism and optimism.

Future expectations index (FEI) has also fallen to 114.5, down from 118 in September 2019, indicating that while consumer sentiments have dipped, the year ahead expectations are still on the optimistic terrain.