The Business Confidence Index (BCI) has dropped for the second successive quarter in 2022-23 (FY23). It stood at 132.5 in the second quarter, down from 138.5 in the first quarter of FY23, according to the latest round of the Business Expectation Survey (BES) released on Thursday.
Earlier, it was at 142.9 in the fourth quarter of 2021-22. It was 117.4 in the corresponding quarter last year.
The National Council of Applied Economic Research (NCAER), with support from the National Stock Exchange, conducted the 122nd round of the BES in September, covering 496 companies across India. It has been carrying out the BES every quarter since 1991, covering about 500 companies across four regions.