Economy worsened since 2016 ... RBI survey

Pre-poll surveys might still be leaning towards Modi, but the recent highly rated RBI's Consumer Confidence Survey tells another tale. The survey was conducted in Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai and New Delhi, has showed that 48% of the citizens believe that the Indian economy has deteriorated in 2018 from the previous round. On general economic situation, income, spending, employment and price level about 48% felt the general economic situation in May 2018 was worse than a year ago and 32% perceived an improvement.

• Households in general were pessimistic about the employment situation, with 44% of them feeling that it has actually worsened. An aggregate of 51% have said that do not expect any change or expect employment prospects to deteriorate in the coming year.
• Over 88% felt that the general price level has increased and over 83% said they expected it will keep increasing in the coming year too.
• The proportion of households expecting their spending will increase in the next one year remained almost unchanged at over 83%.
• Modi government is facing a flak on the price situation as continuously increasing petrol and diesel prices have led to a spike in the rates of almost all essential commodities and transportation.
• GDP grew at 7.7% in the Q4 FY18, the fastest pace in seven quarters, aided primarily by sustained government spending. While private investments are struggling to recover, slowing of private consumption (54.6% against 59.3% in the previous quarter) the main growth engine, is also a cause for concern. 
• Even though the government has been patting its back on bringing down inflation, 79% of respondents felt that it has actually gone up. Many respondents felt that the prices have increased and will continue to increase going ahead. About 83.8% expects food prices to rise in the next three months as against just 77.2% a year back. 
• Retail inflation, measured by the year-on-year change in the CPI, rose from 4.9 % in May to 5% in June, driven by an uptick in inflation in fuel and in items other than food and fuel. RBI Governor Urjit Patel says RBI needs to maintain inflation at the legislated target of 4%.
• One of the major pointers towards a slowdown is the fact that people's incomes have remained stagnant. 48.9% households said that their incomes have remained same, it has gone up for 27% and gone down for 23%.
• And even though incomes have declined, spending has shot up. People are spending more on essential items. For 85% spending on essential items has gone up,  while for 52% it has gone up on non-essential items.

Earlier in June 2018, Piyush Goyal, finance minister in-charge, dismissed the RBI's consumer confidence survey findings. "I think the facts speak for themselves, with 7.7% growth. Some people with blinkers on seem to have come out with a report that does not gel with reality then I have no answer to them, but there will always be some naysayers in this world,” he said. 

Modi's fake data wont work anymore. He must stop spreading false data and 

take action or should say BJP do not have good finance knowledge and 

hire experts where ever they are available ... A citizen

The BJP will not enjoy the tail winds it enjoyed in 2014 in the next elections. However, a lack of hope that the economic situation will improve significantly in the next one year. Economic mismanagement is an important opposition charge. Still the electorate has not placed its bet on an anti-Modi campaign, like it did in an anti UPA campaign in 2012. A status quo in these trends suggests it may still be advantage BJP in 2019 at a time when the opposition is banding together. It is good that institutions are coming out of Modi's evil influence in spreading fake data. Needless to say that present situation is as bad as it was in 2013-14, the last year of UPA's 10 year regime. Majority people not expecting any improvement in economy indicates their loss of confidence Modi's capabilities and could spell doom, in 2019 elections, for Modi & BJP.