Welcome Guest

Businessex.Com
Home News India Inc's confidence at 14-quarter high ahead of Budget

India Inc's confidence at 14-quarter high ahead of Budget

Tags: FICCI, FICCI Business Confidence index, ficci survey, 14-quarter high, union budget, budget 2014, MNREGA

July 07, 2014 | COMMENTS ( 0 )

India Inc\'s confidence at 14-quarter high ahead of Budget

India Inc's business confidence is at a 14-quarter high ahead of the maiden budget of Narendra Modi government that the corporates expect to be "pro-growth".



FICCI'S Business Confidence index value climbed to a 14-quarter high of 69 in the current round, up from 60.8 in the previous survey, with a whopping majority of 93 percent participants anticipating the overall economic situation to be 'moderately to substantially better' in the coming six months.



"A clear mandate in elections, followed by a slew of announcements undertaken by the government has lifted the spirits of industry members. However, going ahead it will be imperative to back these announcements with speedy and timely action," industry body FICCI said.



The participating companies maintained that they expect the Budget to be "pro-growth" giving due focus on ironing out the issues faced by the industry and investors.



The survey results pertain to key operational parameters including sales, profits, investments, employment and exports, and participating companies indicated that most of these parameters are steering towards an upturn.



Investor sentiment, which had taken a sharp hit in the past, seems to be recuperating, as a plunge was noted in the percentage of participating companies anticipating investments to decline in near term. About 6 percent respondents indicated lower investments over the next two quarters. The corresponding figure was 20 percent last time.



Also, 40 percent companies said that they foresee higher investments over the next two quarters, vis-avis 24 percent stating likewise in the last round. Outlook of companies with regard to employment and exports also showed an improvement.



However, nearly 74 percent companies said that demand situation continues to be frail as compared to 70 percent companies in the previous round. However, about 72 percent of the respondents said that they expect their order book position to recover over the next six months.


The situation with regard to availability and cost of credit also seems to be improving, with 25 percent respondents citing availability of credit as a concern area as against 40 percent last time.



Some of the key suggestions by participating firms in the Union Budget 2014-15 include simplification of taxes, early roll out of Goods & Services Tax, reviewing the Direct Tax Code, boost to infrastructure sector and allocation of more funds for power projects.



Other recommendations include incentivizing states to amend and implement Agriculture Produce Marketing Committee Act, checking fiscal deficit, controlling subsidies, a relook at Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA) and drawing up a focussed Disinvestment Plan.



Promotion of manufacturing and MSMEs, skill development, developing ports and providing a fresh impetus to Special Economic Zones were also on the budget wish list.

Please add your comment

Rating
Not readable? Change text.
Enter the characters as seen on the image (case insensitive)
  Notify me of followup comments via e-mail   Subscribe for daily newsletter

Other NEWS

Delhi based startup i2e1 raises $5,00,000

Delhi based startup i2e1 raises $5,...

December 10, 2015

Delhi-based i2e1, a smart network player platform which aims to provide low-cost and free internet to consumers and actionable ana....

Cab aggregators collaborate with state governments to boost entrepreneurship

Cab aggregators collaborate with st...

November 06, 2015

Ola and Uber, cab aggregators have signed agreements with Rajasthan government for skill development and creation of entrepreneuri....

Phase II of startup incubator T-Hub to be operational soon

Phase II of startup incubator T-Hub...

November 04, 2015

Telangana government is planning to expand T-Hub, its ambitious incubator programme, in its second phase with about Rs 150 crore i....

Sabse Technologies receives investment from Ratan Tata

Sabse Technologies receives investm...

November 04, 2015

Global telecom carrier, Sabse Technologies Inc, started by Hotmail Founder Sabeer Bhatia today announced that Tata Sons' Chairman ....

Mobile startup BlackNGreen seeks international expansion

Mobile startup BlackNGreen seeks in...

November 02, 2015

Buoyed by a strong demand for value added services, mobile startup BlackNGreen is eyeing revenue of Rs 350 crore in the next one y....

Startups seek better future under Hay Group's programme

Startups seek better future under H...

October 30, 2015

Global management consultancy, Hay Group will help 100 selected entrepreneurs transform their startups into successful companies o....

Quintype raises USD 3.25 million for product enhancement

Quintype raises USD 3.25 million fo...

October 27, 2015

Quintype, a data-driven publishing company raised USD 3.25 million to enhance product and business development. ....

Hospitality aggregator startup Qik Stay raises $250K

Hospitality aggregator startup Qik ...

October 27, 2015

Delhi-based Qik Stay, a hotel branding and aggregator startup, has raised $250K in seed round of funding from venture capital firm....

Milk Mantra targets a turnover of Rs 150 crore this fiscal

Milk Mantra targets a turnover of R...

October 26, 2015

Odisha-based startup dairy firm, Milk Mantra is targeting a turnover of Rs 150 crore this fiscal.....

Vista Rooms creates app on Instagram, targets tier II & III cities

Vista Rooms creates app on Instagra...

October 23, 2015

Mumbai-based online budget accommodation aggregator, Vista Rooms has created an app-like experience on Instagram where travellers ....

Jiyo Natural receives funding from Indian Angel Network

Jiyo Natural receives funding from ...

October 23, 2015

Indian Angel Network (IAN) has invested an undisclosed amount in Bengaluru-based consumer health food startup, Jiyo Natural.....

​​Vodoo raises USD 1 million from SAIF Partners

​​Vodoo raises USD 1 mi...

October 15, 2015

Deals and price comparison application, Vodoo has raised USD 1 million (around Rs 65 lakh) from SAIF Partners in a seed funding ro....

IBM launches public data centre in Chennai, partners with Nasscom to boost start ups

IBM launches public data centre in ...

October 15, 2015

Technology giant, IBM today launched public data centre in Chennai to tap into growing demand from financial services and governme....

For Nasscom, PPP will boost startups in India

For Nasscom, PPP will boost startup...

October 14, 2015

In the wake of some reservations over the central government creating startup funds, Nasscom's "10,000 startups" Vice President, R....

WalmartLabs to seek partnership with Indian startups

WalmartLabs to seek partnership wit...

October 14, 2015

WalmartLabs, the digital arm of US-based retailing major Walmart Stores, is scouting for startups in India for partnership and wor....