Insta
Profit Of Laws: Thanks To Sustained Reforms, Companies Now Upbeat About Business And Growth Prospects
Swarajya Staff
Sep 24, 2018, 12:35 PM | Updated 12:35 PM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
The Confederation of Indian Industry Business Confidence Index (CII-BCI) is suggesting that companies are leaving behind the gloominess in the previous quarter and are seeing a noticeable upward momentum in their growth in the quarter that ended in September 2018, reported The Hindu Business Online.
The CII-BCI marked 64.9 per cent for the second quarter of financial year 2019, compared to 60.1 per cent in the previous quarter.
“There is a definite improvement in the tempo of business activity, powered by expectations of improved consumption and investment growth. A steep rise in business confidence reflects positive vibes within the industry about the business environment.”, said Chandrajit Banerjee, Director General of CII, in a statement.
The report finds that 64 per cent of the respondents feel that Gross Domestic Product (GDP) growth in financial year 2019 will be in the range of 6.5-7.5 per cent while majority of them anticipate the price rise in 4-5 per cent range.
More than 60 per cent are anticipating increase in sales and new orders in the July-September 2018 quarter, thus improving business conditions.
Nearly about 65 per cent respondents are anticipating an uptick in private sector investment in the remaining quarters of the financial year 2019.
On the Goods and Service Tax (GST) front, 75 per cent of respondents feel that there has been an improvement in business environment post-implementation of GST, especially in terms of ease of tax paying and transparency in the system.
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.