Confidence index of India Inc fell to the lowest level in the fourth quarter of 2019-20 due to the situations created by Covid-19, according to a survey done by the Federation of Indian Chambers of Commerce & Industry. The index fell to 42.9 in the quarter, against 59 in the previous quarter. It had stood at 37.8 in the second quarter of 2008-09, when India saw ripple effects of the global financial crisis. The index comprises current conditions index and expectations index both of which saw sharp decline.