Click to play videoNew Delhi: As India waits for the Union budget that will be presented in the Lok Sabha on July 6, three sectors - retail, auto and tourism - are hoping for a boost.
Inflation worries, recession in the West and a slowdown in the Indian economy are the three ghosts haunting Indian consumer.
The overall confidence of the consumer is down by 23 points compared to first half of 2008 pushing India into the low confidence category with 100 points being the comfort mark.
As the consumer refuses to loosen their purse strings, major sectors have taken a beating.
Automobiles, which saw a consistent growth month on month till September 2008, suddenly took a drastic turn dipping by nearly 24 per cent in November 2008.
But after some fluctuation the April data seems to reflect that the sector might have finally found its driving force and the consumers are trickling back to the showrooms.
Another sector that has shown a consistent growth year on year saw its sharpest fall in 2008.
Retail sales which had been moving upward fell by over Rs 2,00,000 crore in 2008 and the grocery retail sector too saw a drastic fall of over Rs 3,00,000 crore in the same year.
But there is a ray of hope as these sectors are expected to recover in the coming two years.
But the sector that has taken the worst hit is tourism.
Global recession and the recent terrorist attacks have resulted in turbulent times not only for the aviation sector but also the hospitality sector.
Aviation earnings have nose-dived with the sector facing losses of over Rs 4,000 crore. The hospitality sector, too, has been bleeding with bookings down by close to 50 per cent compared to last year.
If an AC Nielsen survey is to be believed then 56 per cent Indians are confident that the Indian economy will recover in the next 12 months.
But the other half still looking for positive signs is still vary of the future are hoping that Budget 2009 will give them that reassurance.
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