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<!DOCTYPE html> <html lang='en'> <head> <meta charset="utf-8"> <meta http-equiv="X-UA-Compatible" content="IE=edge"> <meta name="viewport" content="width=device-width, initial-scale=1"> <link http-equiv="x-dns-prefetch-control" content="on" /> <link rel="dns-prefetch" href="//cdn.zeebiz.com" />  <script type="application/ld+json"> {"@context":"https:\/\/schema.org","@type":"Person","name":"ZeeBiz WebTeam","url":"https:\/\/www.zeebiz.com\/authors\/zeebiz-webteam-120","jobTitle":"Writer"} </script><script type="application/ld+json"> {"@context":"https:\/\/schema.org","@type":"WebPage","name":"COVID-19 dented consumer confidence; average household income fell over 50% in March-July 2020, says RBI bulletin","description":"The COVID-19 pandemic severely dented the consumer confidence in India, the latest bulletin from the Reserve Bank of India (RBI) stated.\n\u00a0\n","url":"https:\/\/www.zeebiz.com\/india\/news-covid-19-dented-consumer-confidence-average-household-income-fell-over-50-in-march-july-2020-says-rbi-bulletin-176383","headline":"COVID-19 dented consumer confidence; average household income fell over 50% in March-July 2020, says RBI bulletin","image":"https:\/\/cdn.zeebiz.com\/sites\/default\/files\/2022\/01\/17\/172959-rbi-2021reuters.jpg","keywords":"Economy,Reserve Bank of India (RBI),COVID-19,RBI bulletin","publisher":{"@type":"Organization","name":"Zee Business","url":"https:\/\/www.zeebiz.com\/","logo":{"@type":"ImageObject","url":"https:\/\/cdn.zeebiz.com\/html\/images\/zeebiz.png","width":600,"height":60}}} </script><script type="application/ld+json"> {"@context":"https:\/\/schema.org","@type":"NewsArticle","url":"https:\/\/www.zeebiz.com\/india\/news-covid-19-dented-consumer-confidence-average-household-income-fell-over-50-in-march-july-2020-says-rbi-bulletin-176383","mainEntityOfPage":{"@type":"WebPage","@id":"https:\/\/www.zeebiz.com\/india\/news-covid-19-dented-consumer-confidence-average-household-income-fell-over-50-in-march-july-2020-says-rbi-bulletin-176383"},"headline":"COVID-19 dented consumer confidence; average household income fell over 50% in March-July 2020, says","description":"The COVID-19 pandemic severely dented the consumer confidence in India, the latest bulletin from the","thumbnailUrl":"https:\/\/cdn.zeebiz.com\/sites\/default\/files\/2022\/01\/17\/172959-rbi-2021reuters.jpg","keywords":"Economy,Reserve Bank of India (RBI),COVID-19,RBI bulletin","image":{"@type":"ImageObject","url":"https:\/\/cdn.zeebiz.com\/sites\/default\/files\/2022\/01\/17\/172959-rbi-2021reuters.jpg","height":900,"width":1200},"datePublished":"2022-01-17T19:40:05+05:30","articleSection":"'.India.'","dateModified":"2022-01-17T19:40:05+05:30","articleBody":"'The COVID-19 pandemic severely dented the consumer confidence in India, the latest bulletin from the Reserve Bank of India (RBI) stated. The bulletin was released on Monday, January 17, 2022. See Zee Business Live TV Streaming Below: Consumers\u2019 perception of the prevailing economic situation and their expectations for the future also influence their spending, saving and investment behaviour. During economic expansion, the RBI bulletin said. The COVID-19 pandemic struck India for the first time in 2020 when the nation went into a complete lockdown. Then, as the number of cases declined, the country was reopened in a phased manner. However, the state governments again imposed certain restrictions in 2021 due to the second wave of the pandemic. At present also, there are certain restrictions that are in place due to the rising number of COVID-19 cases in the country. Furthermore, cases of Omicron variant of COVID-19 are also being recorded in the country. The bulletin stated, Sentiments of households across strata were influenced by the spread of infections and fatalities. There was enduring impact on consumers\u2019 sentiments on their own financial conditions as well as the general economic situation \u2013 with the latter increasingly driven by the former, it added. The RBI bulletin further stated that with the outbreak of the pandemic, the income situation of the households took a massive hit. Furthermore, an overwhelming majority of the consumers reporting decreased incomes as compared to a year ago. As a result, the net response for current period household income fell by more than 50 per period household income fell by more than 50 per cent during March to July 2020, a period during which most of the economy was shut and the GDP saw a massive contraction, the bulletin said. One must note that the pandemic has been very brutal in India, especially during the second wave in April-May 2021, when the daily new cases shot up to 4,00,000 per day. \"","author":{"@type":"Person","name":"ZeeBiz WebTeam","url":"https:\/\/www.zeebiz.com\/authors\/zeebiz-webteam-120"},"publisher":{"@type":"NewsMediaOrganization","name":"Zee Business","logo":{"@type":"ImageObject","url":"https:\/\/cdn.zeebiz.com\/html\/images\/zeebiz.png","width":600,"height":60}}} </script><meta name="robots" content="max-image-preview:large" /> <meta name="news_keywords" content="Economy,Reserve Bank of India (RBI),COVID-19,RBI bulletin" /> <script type="application/ld+json"> {"@context":"https:\/\/schema.org","@type":"NewsMediaOrganization","name":"Zee Business","url":"https:\/\/www.zeebiz.com","logo":"https:\/\/cdn.zeebiz.com\/html\/images\/zeebiz.png","address":{"@type":"PostalAddress","streetAddress":"Essel Studio FC-19 Film City","addressLocality":"Sector 16A","addressRegion":"Noida","postalCode":"201301","addressCountry":"India"},"contactPoint":{"@type":"ContactPoint","contactType":"customer support","telephone":"[+91-0120-2511064]","email":"zeebizenglish@zeemedia.esselgroup.com"},"sameAs":["https:\/\/www.facebook.com\/ZeeBusinessEnglish","https:\/\/x.com\/ZeeBusiness","https:\/\/www.instagram.com\/zeebusinessofficial\/","https:\/\/www.youtube.com\/@ZeeBusiness","https:\/\/whatsapp.com\/channel\/0029Va89fXr60eBihrpYvB2f"]} </script><link rel="amphtml" href="https://www.zeebiz.com/india/news-covid-19-dented-consumer-confidence-average-household-income-fell-over-50-in-march-july-2020-says-rbi-bulletin-176383/amp" /> <meta name="description" content="The COVID-19 pandemic severely dented the consumer confidence in India, the latest bulletin from the Reserve Bank of India (RBI) stated. 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"https://schema.org", "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Business News", "item": "https://www.zeebiz.com/" }, { "@type": "ListItem", "position": 2, "name": "India", "item": "https://www.zeebiz.com/india" }, { "@type": "ListItem", "position": 3, "name": "COVID-19 dented consumer confidence; average household income fell over 50% in March-July 2020, says RBI bulletin" } ] } </script> <div class="article-start"> <h1 class="article-heading article-heading-biz margin-bt10px">COVID-19 dented consumer confidence; average household income fell over 50% in March-July 2020, says RBI bulletin</h1> <h2 class="biz-a-sum">The COVID-19 pandemic severely dented the consumer confidence in India, the latest bulletin from the Reserve Bank of India (RBI) stated. </h2> <ul class="social-biz"> <li><a 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'/india/news-covid-19-dented-consumer-confidence-average-household-income-fell-over-50-in-march-july-2020-says-rbi-bulletin-176383'});">View in App</a></li> </ul> <div class="pos-relative"> <div class="field field-name-field-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even" rel="og:image rdfs:seeAlso" resource="https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_850x478/public/2022/01/17/172959-rbi-2021reuters.jpg?itok=a6qhnNiV"><img class="img-responsive article-img" data-qazy="true" class="" src="https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_850x478/public/2022/01/17/172959-rbi-2021reuters.jpg?itok=a6qhnNiV&c=c5af8c0f92ccc8e249257bf0f1cb18e8" alt="COVID-19 dented consumer confidence; average household income fell over 50% in March-July 2020, says RBI bulletin" title="COVID-19 dented consumer confidence; average household income fell over 50% in March-July 2020, says RBI bulletin" /></div></div></div> <div class="black-transparent">COVID-19 dented consumer confidence; average household income fell over 50% in March-July 2020, says RBI bulletin. Source: Reuters</div> </div> </div> <div> <div class="row artposchngbox" style="padding-bottom:20px;"> <div class="col-lg-9 col-md-9 col-sm-12 pad-left sidebar176383 col-md-push-3"> <div class="sidebar-inner"> <div class="article-para">  <script> var c_id = ''; gtag('get', 'UA-75361766-1', 'client_id', (client_id) => { c_id = client_id; }); // CRE Splide Click $("body").on("click", ".splide__slide_tranding", function(){ var itemJSON = {}; itemJSON = itemJSONCompile($(this),"click", c_id); dataLayer.push(itemJSON); //console.log('event fired ', itemJSON); }); // CRE Splide Click left $("body").on("click", ".slider-trending .slick-prev", function(){ var itemJSON = {}; itemJSON = itemJSONCompile($('.splide__slide_tranding.slick-current'),"left", c_id); dataLayer.push(itemJSON); //console.log('event fired ', itemJSON); }); //CRE Splide Click right $("body").on("click", ".slider-trending .slick-next", function(){ var itemJSON = {}; itemJSON = itemJSONCompile($('.splide__slide_tranding.slick-current'),"right", c_id); dataLayer.push(itemJSON); //console.log('event fired ', itemJSON); }); //CRE Splide Click right rec temp commenet start // $("body").on("click", ".splide__slide_recommended", function(){ // var itemJSON = {}; // itemJSON = itemJSONCompile($(this),"clickr", c_id); // dataLayer.push(itemJSON); // //console.log('event fired ', itemJSON); // }); // // CRE Splide Click left // $("body").on("click", ".slider-recommended .slick-prev", function(){ // var itemJSON = {}; // itemJSON = itemJSONCompile($('.splide__slide_recommended.slick-current'),"leftr", c_id); // dataLayer.push(itemJSON); // //console.log('event fired ', itemJSON); // }); // //CRE Splide Click right // $("body").on("click", ".slider-recommended .slick-next", function(){ // var itemJSON = {}; // itemJSON = itemJSONCompile($('.splide__slide_recommended.slick-current'),"rightr", c_id); // dataLayer.push(itemJSON); // //console.log('event fired ', itemJSON); // }); // temp commenet end function itemJSONCompile(itemBind, eventType, c_id){ console.log("eventType", eventType); var itemCount = itemBind.attr("data-count"); var clientId = c_id;//itemBind.attr("data-clientid"); var authorName = 'na'; var postId = itemBind.attr("data-postid"); var articleCat = itemBind.attr("data-Category"); var articleName = itemBind.attr("data-articlename"); var itemJSON = {}; if(eventType == "click"){ if(itemBind.hasClass("splide__slide_tranding")){ itemJSON = { 'event':'cre_article_click', 'eventCategory':'CRE', 'eventAction':'cre_article_click', 'eventLabel': itemCount, 'Client_ID': clientId, 'author_name': authorName, 'section':'Trending Now', 'postID': postId, 'publish_date':'na', 'article_category': articleCat, 'article_name': articleName, 'widget_position': 'Top' }; } } else if(eventType == "left"){ if(itemBind.hasClass("splide__slide_tranding")){ itemJSON = { 'event':'cre_arrow_click', 'eventCategory':'CRE', 'eventAction':'cre_arrow_click', 'eventLabel': 'left', 'Client_ID': clientId, 'author_name': authorName, 'section':'Trending Now', 'postID': postId, 'publish_date':'na', 'article_category': articleCat, 'article_name': articleName, 'widget_position': 'Top' } } } else if(eventType == "right"){ if(itemBind.hasClass("splide__slide_tranding")){ itemJSON = { 'event':'cre_arrow_click', 'eventCategory':'CRE', 'eventAction':'cre_arrow_click', 'eventLabel': 'right', 'Client_ID': clientId, 'author_name': authorName, 'section':'Trending Now', 'postID': postId, 'publish_date':'na', 'article_category': articleCat, 'article_name': articleName, 'widget_position': 'Top' } } } return itemJSON; } </script>  <div id="fieldcontent" class="star176383"><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"><p>The COVID-19 pandemic severely dented the consumer confidence in India, the latest bulletin from the Reserve Bank of India (RBI) stated. The bulletin was released on Monday, January 17, 2022.</p><div class='block margin-bt30px adATF'><div id='div-gpt-ad-AS-Inarticle-1'></div><script> googletag.cmd.push(function() { googletag.defineSlot('/11440465/Zeebiz_Web/Zeebiz_AS_Inarticle_1_300x250', [300, 250], 'div-gpt-ad-AS-Inarticle-1').addService(googletag.pubads()); googletag.display('div-gpt-ad-AS-Inarticle-1'); }); </script></div></p> <p><strong>See Zee Business Live TV Streaming Below:</strong></p><div id='v-zeebiz-v0'></div></p> <iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="315" src="https://www.zeebiz.com/live-tv/embed" width="100%"></iframe></p> <p>"Consumers’ perception of the prevailing economic situation and their expectations for the future also influence their spending, saving and investment behaviour. During economic expansion," the RBI bulletin said.</p> <p>The COVID-19 pandemic struck India for the first time in 2020 when the nation went into a complete lockdown. Then, as the number of cases declined, the country was reopened in a phased manner. However, the state governments again imposed certain restrictions in 2021 due to the second wave of the pandemic.<br /> At present also, there are certain restrictions that are in place due to the rising number of COVID-19 cases in the country. Furthermore, cases of Omicron variant of COVID-19 are also being recorded in the country.</p><div class='block margin-bt30px adATF'><div id='div-gpt-ad-AS-Inarticle-2'></div><script> googletag.cmd.push(function() { googletag.defineSlot('/11440465/Zeebiz_Web/Zeebiz_AS_Inarticle_2_300x250', [300, 250], 'div-gpt-ad-AS-Inarticle-2').addService(googletag.pubads()); googletag.display('div-gpt-ad-AS-Inarticle-2'); }); </script></div></p> <p>The bulletin stated, "Sentiments of households across strata were influenced by the spread of infections and fatalities."</p> <p>"There was enduring impact on consumers’ sentiments on their own financial conditions as well as the general economic situation – with the latter increasingly driven by the former," it added.</p> <p>The RBI bulletin further stated that with the outbreak of the pandemic, the income situation of the households took a massive<br /> hit. Furthermore, an overwhelming majority of the consumers reporting decreased incomes as compared to a year ago.</p> <p>"As a result, the net response for current period household income fell by more than 50 per period household income fell by more than 50 per cent during March to July 2020, a period during which most of the economy was shut and the GDP saw a massive contraction," the bulletin said.</p> <p>One must note that the pandemic has been very brutal in India, especially during the second wave in April-May 2021, when the daily new cases shot up to 4,00,000 per day.</p> </div></div></div></div>  <p><i> Get <a href="https://www.zeebiz.com"><strong>Latest Business News</strong></a>, <a href="https://www.zeebiz.com/india/markets"><strong>Stock Market</strong></a> Updates and <a href="https://www.zeebiz.com/videos"><strong>Videos</strong></a>; Check your tax outgo through <a href="https://www.zeebiz.com/personal-finance/income-tax-calculator"><strong>Income Tax Calculator</strong></a> and save money through our <a href="https://www.zeebiz.com/personal-finance"><strong>Personal Finance</strong></a> coverage. 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