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Modi mocks ‘pessimists’, but RBI says a whole lot of Indians are pretty pessimistic about the economy

Last week, Prime Minister Modi gave an hour long speech denouncing ‘pessimists’ who refused to see the bright side of demonetisation and other transformations that his government’s able management had visited upon the economy.

We at Kafila, did a quick fact-check offering many reasons for pessimism, but as they say in Delhi – humari kya aukaat hai?

Now, a set of surveys by the Reserve Bank of India have concluded that 65% of the 5100 metropolitan households polled feel the economic situation has either worsened or stayed the same. It’s a small sample, but the results are revealing.  To quote :

Households’ current perceptions on the general economic situation remained in the pessimistic zone for four successive quarters, with the outlook worsening — RBI

For those you wondering – “four successive quarters” is a full year.

I would urge most readers to read the report in full, but here are some key takeaways:

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