The National Council of Applied Economic Research (NCAER), one of India’s premier economic policy research think tanks, carried out the 126^th Round of its Business Expectations Survey (BES) in September 2023, with support from the National Stock Exchange of India Limited (NSE). NCAER has been carrying out the BES every quarter since 1992, covering 500 firms across four regions.

There has been all-round improvement in business sentiments in this quarter.  The BCI rose from 128 in 2023–24:Q1 to 140.7 in 2023–24:Q2 .   The BCI was also higher than the corresponding quarter in the previous year (132.5 in 2022–23:Q2).