1. The Genesis India Consumer Indicator (GICI) increased to a new record high of 64.47 in March from 63.55 in December.
2. Four out of the five components which comprise the GICI increased in March. Only durable goods buying conditions fell on the month, although this was marginal and it remains close to the record high posted in December.
3. Respondents were more optimistic about their current financial situation. The current finances indicator increased to 54.09 in March from 52.5 in December, the highest since the series began in October 2017. Survey participants were also more optimistic about their future finances.
4. 71% of respondents said that they would vote for the BJP party in the upcoming election. This represents a sharp rise in support since December when 41% responded that they would vote BJP. In contrast 16% said they would vote for the Congress party. Narendra Modi’s popularity in our panel was clear, with 76% of respondents reporting that they thought Modi would make the ideal candidate for Prime Minister.
Our panel is made up of urban respondents rather than rural, where there is growing support for the Congress party.