Economic revival in 2014: CEO survey

NEW DELHI: Even as growth slowed down and investments dried up in the last financial year, many CEOs in a survey conducted by the Confederation of Indian Industry (CII) said they would increase investments in the domestic market in the current financial year.

The survey revealed that 44% of the respondents affirmed an increase in their domestic investment during the current financial year, while 37% of the respondents did not see a decline. Not only this, the CEOs also made similar projections on foreign investments. While 50% did not predict any change in their foreign investment, 37% saw it increasing during the current financial year. “We need to see some coordinated action from the various ministries in the Union government, state governments and the

A REVIVAL IN GROWTH MAY TAKE PLACE ONLY FROM 2014-15, UNLESS THE REFORMS PROCESS IS EXPEDITED, THE SURVEY HAS SAID

Reserve Bank of India (RBI),” said Chandrajit Banerjee, director-general.

A turnaround in growth may however take place only from 2014-15, unless the reforms process is expedited and more aggressive set of measures are put in place, the study said. Under prevailing circumstances, 80% of the respondents did not see the gross domestic product growth for the current year crossing the 5.5% mark.

Fifty per cent of the respondents revealed that fast-tracking the reforms process as the first policy priority to clip the current account deficit and 20% ranked liberalising FDI regulations as an economy-boosting measure.