November 06, 2024 14:28 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Union Minister HD Kumaraswamy booked for threatening cop probing into mining case | Supreme Court upholds validity of Uttar Pradesh Madrasa Education Act | Not all private properties are community resources that govt can take over: Supreme Court | Pakistan's Lahore has become world's most polluted city with an AQI of 1900 on Sunday | Indian Army 'successfully completes' patrolling to a key point in Ladakh's Depsang region
India's Business Confidence Index soars to 150 in Q1 FY25, up from last year: NCAER-NSE survey
Photo Courtesy: Pixabay

India's Business Confidence Index soars to 150 in Q1 FY25, up from last year: NCAER-NSE survey

| @indiablooms | 20 Jul 2024, 01:29 am

New Delhi: Overall business sentiment in India indicated buoyancy with the Business Confidence Index (BCI) at nearly 150 during the April-June quarter, rising from the last quarter (138) and higher than the corresponding period a year ago, according to an NCAER-NSE survey.

The BCI is based on four components—overall economic conditions to improve in next six months; financial position of the firms will improve in next six months; present investment climate; and whether present capacity utilisation was close to or above optimal level.

“The share of firms expecting overall conditions to improve went up from nearly 66 percent in Q4 of FY 24 to over 71 percent in Q1 of FY25,” said the NCAER-NSE survey.

The number of firms expecting their own financials to improve over the next six months increased from over 60 per cent to more than 67 percent during the period.

Over 60 percent firms gave a thumbs up to the present investment climate, while nearly 98 percent firms reported optimal or above optimal capacity utilisation in Q1.

“Firms’ perception about the improvement in their own financial position is particularly noteworthy as the share of such firms was 67 percent, the highest since Q3 of 2010-11 (76%),” said NCAER’s Prof Bornali Bhandari, who led the survey.

The survey said sentiments about external trade, both exports of final products and imports of raw material improved with a large share of firms expecting them to increase.

It also found an uptick in the labour markets’ sentiments as compared with the previous quarter, with more firms planning to increase hiring.

The survey was carried out in June, covering 497 firms spread across six cities, spread across all four regions of the country. It covered both MSME and large firms.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.