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CII survey forecasts 6 pc growth
New Delhi, Nov 02: The majority (67 per cent) of people surveyed by the Confederation of Indian Industries expressed confidence that the economy would record more than six per cent growth in 2003-04.
New Delhi, Nov 02: The majority (67 per cent) of people surveyed by the Confederation of Indian Industries expressed confidence that the economy would record more than
six per cent growth in 2003-04.
The CII business outlook survey found that 21 per cent felt that the economic growth would be 5.5-6.0 per cent, eight per cent said the economy would grow 5.0-5.5 per cent and only three per cent felt that the growth would be less than five per cent in the current fiscal.
On the growth prospect during next fiscal, the majority of respondents (61.2 per cent) expect that the growth would remain above the six per cent mark. "We foresee two consecutive years of high growth, similar to that experienced in the mid-90," the survey said.
The majority of the respondents (69.3 per cent) are looking at fresh capital investments in the existing business units.
The survey relates to the actual performance of industry during April-September 2003 and the forecast for October'03 to March'04. A whopping majority (91.1 per cent) envisaged a growth in production of their company in the fiscal year 2003-04.
In the survey, 41 per cent respondents were manufacturers of intermediate goods, 16 per cent capital goods, 17 per cent service sector companies, 14 per cent consumer goods and 11 per cent were basic goods companies.
Bureau Report
On the growth prospect during next fiscal, the majority of respondents (61.2 per cent) expect that the growth would remain above the six per cent mark. "We foresee two consecutive years of high growth, similar to that experienced in the mid-90," the survey said.
The majority of the respondents (69.3 per cent) are looking at fresh capital investments in the existing business units.
The survey relates to the actual performance of industry during April-September 2003 and the forecast for October'03 to March'04. A whopping majority (91.1 per cent) envisaged a growth in production of their company in the fiscal year 2003-04.
In the survey, 41 per cent respondents were manufacturers of intermediate goods, 16 per cent capital goods, 17 per cent service sector companies, 14 per cent consumer goods and 11 per cent were basic goods companies.
Bureau Report