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Business confidence rises in Oct-Dec as India Inc optimistic on growth: CII

CII Business Confidence Index climbed up to 59.7 during October-December 2017 compared to 58.3 in previous quarter

Press Trust of India  |  New Delhi 

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Companies in Indian are optimistic that the country's economic growth will gain traction during the third quarter this financial year, says a report. The Index (BCI) has climbed up to the level of 59.7 during October-December 2017 compared to 58.3 in the previous quarter, reflecting an improvement in perception regarding overall economic conditions amidst indications of a normalisation in business situation post the recent disruptions like "The survey underscores the perception that the economy is on a sustainable recovery path, with the many interventions having an impact on the ground.

The climb in underpins the hope that the upward trend one is seeing on macro figures would be sustained," Director General Chandrajit Banerjee said. The findings are a part of the Confederation of Indian Industry's quarterly Business Outlook Survey, which is based on responses from large, medium and small companies, covering all regions of the country. "The significant improvement in the index this quarter has been led by a sharp improvement in the Expectation Index, as compared to the Current Situation Index, as firms appeared particularly upbeat about the expectations in their sectors," the chamber said in a statement. graph

First Published: Mon, December 11 2017. 00:49 IST
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