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India’s economic confidence has been boosted by the recent set of big-bang reforms, according to a report by global research firm Ipsos.
According to the ‘Ipsos Economic Pulse of the World’ survey, India’s economic confidence shot up by eight percentage points to 68 per cent in August as compared to the previous month, making it the fourth most economically confident country in the world after Saudi Arabia, Sweden, and Germany.
Mick Gordon, CEO of Ipsos in India, said, “The Union Government unleashed a burst of economic policy reforms that included a steep rise in heavily subsidised diesel price, limit on cooking gas subsidy for consumers and foreign investments into critical sectors such as aviation and retail, raising the hope that expected fiscal breach will now be lower and investments will pick up.”
Around 48 per cent of Indians believe their local economy is good, and 53 per cent expect the economy in their local area to get stronger in the next six months.
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