Deutsche Boerse has said that Indian business sentiment fell close to the lows of 2014 in August and there is a strong possibility that the RBI will go for a rate cut before the September 29 policy meet, media reported.
As per reports, Indian businesses were less confident about the business environment in August as subdued domestic demand offset the positive impact of lower inflation and interest rates. The MNI India Business Sentiment Indicator, a gauge of current sentiment among BSE-listed companies, fell by 4.6 per cent to 62.3 in August from 65.3 in July.
Commenting on the issue, MNI Indicators Chief Economist Philip Uglow told the media, "There are not many positives to take away from the August survey. Overall business confidence declined back close to the lows of 2014."
"The next policy meeting is in September but there is a strong possibility that they will decide to move before then," he added.