Economy in way of revival: Ficci survey
The stage of confidence of India Inc is getting higher due to the fiscal stimulus measures that started exhibiting its effect on the economic activity. 80 per cent of the companies believe that the Indian economy is on the way of recovery and expect improvements in growth performance in the coming months.
Federation of Indian Chambers of Commerce and Industry (Ficci) carried out a survey to measure business confidence sentiment, for the month of September. The survey said that 60 per cent of the companies reported improved industry performance at present, compared to the last six months.
The study represented responses from 372 companies with wide geographical and sectoral spread and turnover ranging from Rs 1 crore to Rs 1,16,000 crore. Respondents to the survey were from various sectors such as textiles, cement, steel, leather, chemicals and fertilizers, oil and gas, automobile and auto components, food processing, electrical equipment and machinery, plastic and rubber, among other sectors.
However, approximately 86 per cent of the survey participants have reported that poor progress and spread of monsoon this year may dampen the economic growth. Meanwhile, 92 per cent of the companies said that there was sufficient liquidity in the system and there was not much difference in the loan amount sanctioned and disbursed by banks.
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