Business confidence at its lowest in six years

New Delhi, Nov. 15 -- Business confidence of Indian companies dropped to the lowest in six years in the three months to October, a survey released by think tank National Council of Applied Economic Research (NCAER) showed on Monday.

The Business Confidence Index (BCI) declined 15.3% to 103.1 from the preceding three months, according to the quarterly survey. The last time the index was lower than the current level was in the quarter ended 31 October 2013 at 100.4.

"The numbers suggest a deep and all-pervasive worsening of business sentiments," NCAER said in a statement.

Consumer confidence has also dipped to a six-year low in September as sentiment around employment, income and discretionary spending declined, according to Reserve Bank o...