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Budget 2015: Sustainable turnaround still elusive, say CEOs

New Delhi: Investments, profits and exports lack a 'sustainable turnaround', according to the results of a business confidence survey released on Tuesday. Another study urged the government to 'walk the talk' and take steps to

PTI [ Updated: February 25, 2015 16:27 IST ]
budget 2015 sustainable turnaround still elusive say ceos
budget 2015 sustainable turnaround still elusive say ceos

New Delhi: Investments, profits and exports lack a 'sustainable turnaround', according to the results of a business confidence survey released on Tuesday. Another study urged the government to 'walk the talk' and take steps to improve ease of doing business

The results of the Business Confidence Survey by the Federation of Indian Chambers of Commerce and Industry (Ficci) showed a marginal dip in the proportion of respondents anticipating 'moderately to substantially better' performance over the near-term at economy, industry and company level.

While the situation was better than last year, the change in quarter-on-quarter numbers were yet to indicate a firm turnaround, Ficci said. According to Ficci's poll, measures announced by the government over the past seven-eight months have had a positive impact on the sentiment of the business community.

In another survey, consultancy major Grant Thornton said half the Indian businesses expect radical tax reforms and more clarity on certain taxation measures in the Budget. "There is political stability, markets are at a high, everyone is talking about acche din.

The Prime Minister has spoken about 'Make in India'. He has stressed on our desire to attract foreign direct investment and has reassured global investors a non-adversarial tax environment, but India still ranks 142 out of 189 countries in the ease of doing business," said Pallavi Bakhru, director Grant Thornton Advisory. "Now is the opportunity for the government to walk the talk. India Inc is waiting with bated breath!," Bakhru added.

Yet another survey by the Confederation of Indian Industry (CII) found the industry pinning high hopes on the Narendra Modi-led government's first full Budge.

According to Ficci and CII surveys, most CEOs believe a framework for the goods and services tax would be announced in the Budget, which would tilt the balance in the interest of revenue neutrality.

While the situation was better than last year, the change in quarter-on-quarter numbers were yet to indicate a firm turnaround, Ficci said. According to Ficci's poll, measures announced by the government over the past seven-eight months have had a positive impact on the sentiment of the business community.

In another survey, consultancy major Grant Thornton said half the Indian businesses expect radical tax reforms and more clarity on certain taxation measures in the Budget. "There is political stability, markets are at a high, everyone is talking about acche din.

The Prime Minister has spoken about 'Make in India'. He has stressed on our desire to attract foreign direct investment and has reassured global investors a non-adversarial tax environment, but India still ranks 142 out of 189 countries in the ease of doing business," said Pallavi Bakhru, director Grant Thornton Advisory. "Now is the opportunity for the government to walk the talk. India Inc is waiting with bated breath!," Bakhru added.

Yet another survey by the Confederation of Indian Industry (CII) found the industry pinning high hopes on the Narendra Modi-led government's first full Budget.

According to Ficci and CII surveys, most CEOs believe a framework for the goods and services tax would be announced in the Budget, which would tilt the balance in the interest of revenue neutrality.

 

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