Interviewtimes 
Consumer’s hopes of a tough lockdown in various states have been reduced in May to cope with the covid crisis and the situation in the country. The Refinitive-Ipsos Primary Consumer Sentiment Index (PCSI) for India has been released for May. This shows a sharp decline of 7.3 percent in April 2021 amidst the risk of Covid-19. The decline in all the sub-indicators in it has now created a worrying situation.
The PCSI Employment Confidential Sub-Index fell by 6.6 per cent, while the People’s Current Financial Condition Sub-Index fell by 4.0 per cent. Similarly, the Investment Climate Sub-Index fell by 6.6 per cent, while the Economic Expectations Sub-Index fell by 7.6 per cent.
This proves that the second wave was more intense and deadly than the first wave in the country last year. However, the PCSI is clear on how it has affected other infrastructure in the system. Individual finances, as well as personal savings from the index, are also said to have affected people’s daily expenses and savings for the future.
At the same time, the government’s focus is on protecting the lives of people living with the virus. “As the state government tightens its grip on the economy, people are losing their jobs and losing their confidence in the financial system,” it said. In fact, it is a difficult time in which everything else is neglected. So now everyone’s focus is on June. “If the infection rate does not drop in June and there is no lockdown, the situation is likely to get more complicated,” it said.
