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Home » Finance News » RPT-India business, political confidence up in June qtr

RPT-India business, political confidence up in June qtr

Business confidence in India rebounded in the June quarter reflecting signs of recovery, and most respondents of a survey expect a weaker rupee and inflation within 8 percent by end of March 2010, a think-tank said.

The National Council of Applied Economic Research (NCAER) said on Monday political confidence was boosted by the perceived political stability and the push for reforms.

NCAER's business confidence index jumped to 118.6 points in the June quarter, up 37 points from previous quarter, when it was at its the lowest level since February 1998.

"The business sentiments have improved reflecting signs of economic recovery," NCAER said.

"The economic conditions are further expected to improve in the coming months as the impact of the Union budget for FY10 begins to be realised. The increased government spending may provide some impetus to the domestic investment and consumption."

Almost all respondents expect wholesale price inflation INWPI=ECI to be within 8 percent by the end of this fiscal year and rupee INR=IN would fall beyond 49 to a dollar, it said.

NCAER said expectation of a fall in interest rate now appears to be "optimistic".

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