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CII poll forecasts double digit growth in sales
New Delhi, Dec 21: Even as the industry identified the burgeoning fiscal deficit both at the Centre and the states to be hampering sustainable growth, CII`s latest CEO snap poll has forecast a double digit growth in sales in the current fiscal and inflation levels between 5-6 per cent for the remaining months.
New Delhi, Dec 21: Even as the industry identified the burgeoning fiscal deficit both at the Centre and the states to be hampering sustainable growth, CII's latest CEO snap poll has forecast a double digit growth in sales in the current fiscal and inflation levels between 5-6 per cent for the remaining months.
Around 74 per cent of the CEOs said they expected their company's sales to grow by more than 10 per cent in 2003-04.
Thirty five per cent were hopeful of a growth in sales in the range of 10-20 per cent with another 13 per cent looking for a growth between 20-40 per cent.
A meagre four per cent were optimistic enough for a sales growth of more than 50 per cent while 26 per cent were less expectant with growth in sales to be lower than 10 per cent.
The survey indicated a similar trend in profit growth with 74 per cent expecting a two digit growth. A decent 22 per cent vouching for a growth of more than 50 per cent during the period.
Thirteen per cent stated that growth would be between 20-30 per cent, four per cent expected a growth in the range of 30-40 per cent and nine per cent projected a growth between 40-50 per cent.
The survey also said that the budget target of a fiscal deficit of 5.6 per cent of GDP would be achieved and felt that the government would "overshoot" the target.
Bureau Report
Around 74 per cent of the CEOs said they expected their company's sales to grow by more than 10 per cent in 2003-04.
Thirty five per cent were hopeful of a growth in sales in the range of 10-20 per cent with another 13 per cent looking for a growth between 20-40 per cent.
A meagre four per cent were optimistic enough for a sales growth of more than 50 per cent while 26 per cent were less expectant with growth in sales to be lower than 10 per cent.
The survey indicated a similar trend in profit growth with 74 per cent expecting a two digit growth. A decent 22 per cent vouching for a growth of more than 50 per cent during the period.
Thirteen per cent stated that growth would be between 20-30 per cent, four per cent expected a growth in the range of 30-40 per cent and nine per cent projected a growth between 40-50 per cent.
The survey also said that the budget target of a fiscal deficit of 5.6 per cent of GDP would be achieved and felt that the government would "overshoot" the target.
Bureau Report