Business sentiment improves for the second consecutive quarter as corporate leaders expect urban and rural consumption to rise over the next six months, finds the latest Business Today-C fore Business Confidence Survey.
The gloom in the corporate sector is making way for an up beat mood. The passage of the GST (goods and services tax) Bill in Parliament and implementation of the Seventh Pay Commission recommendations coupled with the overall festive season buoyancy have contributed to a rise in confidence levels. Indeed, business sentiment as measured by the Business Confidence Index (BCI) has improved for the second consecutive quarter.
The confidence level, on a scale of 100, has jumped to 53.1 in the July to September period. In the past two surveys, the confidence level stood at 51.5 (in April-June) and 49.6 (in January-March). The BCI in the same quarter last year stood at 55.4.
Business confidence had fallen for five consecutive quarters before starting to climb from the first quarter of 2016/17. The BCI was launched in January to March quarter of 2011. Market research agency C fore quizzed 500 CEOS and chief financial officers across 12 cities for the survey.
The survey shows that corporate leaders believe the overall economic situation, financial situation, production level and sales would improve in the October to December period. For instance, some 37 per cent respondents expect overall economic situation to get better in the current quarter as compared with 29 per cent respondents expecting the same in the previous survey. Some 44 per cent respondents say that sales are likely to improve in the October-December period. The corresponding figure in the previous survey was 34 per cent.
This story is from the October 23, 2016 edition of Business Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the October 23, 2016 edition of Business Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
The Dark Side Of Gold Loans
There Has Been A Sharp Rise In Gold Loans In Recent Years. But There Is A Seedier Side To This, As Is Evident From The Red Flag The RBI Raised Recently. Will The Regulator's Move Protect Customers?
All That Glitters
The price of gold has been rising unabated. It has soared to more than 73,000 per 10 gm in 2024 from *31,000 in early 2018. Is the rally sustainable or is this a bubble?
"Hire for attitude, not ability"
Thryve Digital is a player in the healthcare technology sector delivering next-generation solutions
Road Warrior
For Khalid Wani, Senior Director of Sales at Western Digital India, life is much more than just the corner office. Biking across the world is one way he derives meaning for his life
WIDENING THE POOL
THERE HAS BEEN A JUMP IN INDIVIDUALS INVESTING DIRECTLY IN THE STOCK MARKETS, BUT MUMBAI AND AHMEDABAD STILL ACCOUNT FOR THE LION'S SHARE. THERE DEFINITELY IS SCOPE FOR IMPROVEMENT IN TERMS OF PENETRATION LEVELS ACROSS THE COUNTRY
CRISIS IN THE CLOUDS
INDIAN AVIATION IS IN CRISIS. AIRLINES ARE GRAPPLING WITH FLIGHT CANCELLATIONS, CREW SHORTAGES, AND COMPLAINTS ABOUT POOR SERVICE, ARE BLEEDING DUE TO RISING COSTS WILL THE FASTEST-GROWING AVIATION MARKET RECOVER?
"India should start privatising public sector banks"
Arvind Panagariya, Chairman of the 16th Finance Commission, on growth, inequality, jobs, the banking sector, and more
"I LET MY WORK DO THE TALKING"
Megha Engineering & Infrastructures MD P.V. Krishna Reddy on being low profile, the infra opportunity and much more
"Core of insurance lies in long-term security"
Vibha Padalkar, MD & CEO of HDFC Life, on the insurance provider's performance, surrender charges, and future innovations
Distress in the Books
Bandhan Bank, the brainchild of Chandra Shekhar Ghosh, has made the journey from an MFI to a bank, but with many hurdles. Now with his resignation as MD & CEO, is the lender staring at more uncertainty?