Current Affairs - Economy - Discussion

India has slipped to the 6th position globally in the business optimism index for the first quarter of 2018 as per Grant Thornton's quarterly global business survey. Business Optimism Index rankings are based on a quarterly global business survey of 2500 businesses in 37 economies conducted by professional services network Grant Thornton. Grant Thornton outlined that business sentiment in India has been the weakest since 2014. Weakening Indian rupee and a surge in oil prices have been identified as prime factors that led to deterioration in confidence since the third quarter of 2017. The survey findings also revealed that Indian businesses consider red tape, availability of skilled workforce, lack of information communication and technology (ICT) infrastructure and shortage of finance as biggest constraints to growth.