Industry upbeat on rural economy sentiment: CII-CRIF High Mark

The Confederation of Indian Industry (CII)-CRIF High Mark’s Rural Business Confidence (RBC) Index showed a reading of 63.9 for the month of October 2021 indicating high rural business sentiment. Of the industry sectors surveyed, 48 per cent respondents expect profitability of their organisation to improve, while 54 per cent respondents expect ease of access to credit to the rural economy to improve. Around 59 per cent of the respondents expect their organisations’ order books to improve affecting businesses in rural India. The index further showed that despite pandemic, disbursement of retail loans in rural India grew by 23 per cent to Rs.12.5 trillion in 2021 as compared to Rs.10.1 trillion disbursed in 2018-19.