27.4 C
Delhi
Thursday, October 22, 2020

Business sentiments recover, weak demand continues: CII Survey

- Advertisement -

CII's 10-point agenda includes low corporate tax, IBC reformsNew Delhi, Sep 20 (IANS) With the gradual lifting of the restrictions on economic activities across the country, business sentiments have recovered with the CII Business Confidence Index surging to 50.3 in the July-September period.

During the April-June quarter of 2020, it recorded its lowest reading at 41.0.

“The stellar recovery in the index has been supported by the remarkable increase in the Expectations Index (EI), which rose 46 per cent quarter-on-quarter, to the level of 55.2, as the nationwide lockdown restrictions were lifted, and businesses gradually began to reopen during the July-September quarter,” a CII statement said.

The ‘Current Situation Index’, on the other hand, was recorded below the psychological level of 50 — at 40.6 — as the stringent lockdown restrictions led to the complete shutdown of most business operations for a larger part of the quarter, thus impacting business sentiments.

Commenting on the survey results, Chandrajit Banerjee, Director General, CII, said: “It is heartening to note the recovery in CII’s Business Confidence Index for the July-September quarter, indicating an improvement in business conditions during the period. However, while a recovery is underway, it could be tremendously expedited through continued government support and hand-holding of businesses during this crisis.”

Although business sentiments have strengthened, the demand scenario continues to remain weak, as per the survey.

“More than half of the respondents (51 per cent) have indicated that the weakness in domestic demand is likely to be the top-most risk to business confidence in the next six months,” it said.

Further, nearly 30 per cent of the respondents feel that the business activity may return to the pre-pandemic levels by Q1 FY22.

The heightened uncertainty led by the recurrent lockdown in certain states is impacting business operations and lengthening the recovery timeline even though a majority of the workforce has already returned to the workplaces for around 42 per cent of the respondents.

The CII statement noted that a large share of respondents — around 37 per cent — foresee a return of capital spending to its pre-pandemic levels only by the first half of FY22.

The survey was conducted during August-September 2020 and saw the participation of more than 150 firms across all industry sectors, including micro, small, medium and large enterprises, from different regions.

Source: IANS

India Updates
India Updates is an independent news & Information website. Follow us for regular updates on News and Information.

Follow Us On

Related News

Covid-hit developers dole out festive offers for home buyers

New Delhi, Oct 22 (IANS) As the pandemic and the lockdowns brought housing demand to a halt, festivities seemed just apt for real estate...

IAVI, Merck, and Serum Institute of India to develop monoclonal antibodies for Covid

New Delhi, Oct 22 (IANS) IAVI, a non-profit scientific research organisation and Serum Institute of India announced an agreement with Merck to develop SARS-CoV-2...

Google brings India’s mini masterpieces to life with AI, AR

New Delhi, Oct 22 (IANS) Google Arts and Culture on Thursday announced it has partnered with the National Museum in New Delhi to showcase...

Bihar polls: Over 50% population satisfied with JD-U-BJP, reveals research

New Delhi, Oct 22 (IANS) According to a recent study reflecting the opinion and perception of people in Bihar, more than 50 per cent...

Bihar polls: Political aspirations overshadow family ties

By Manoj Pathak (IANS): Political aspirations generally force leaders to switch parties to capture power, but in the Bihar Assembly poll the aspirations are hurting family...

OTT set for explosive growth in India as Jio plans 5G roll out

New Delhi, Oct 22 (IANS) In a socially distanced world, over-the-top (OTT) video and data consumption are witnessing a steep surge in India and...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Trending Topics In India

Covid 19 India Updates

IAVI, Merck, and Serum Institute of India to develop monoclonal antibodies for Covid

New Delhi, Oct 22 (IANS) IAVI, a non-profit scientific research organisation and Serum Institute of India announced an agreement with Merck to develop SARS-CoV-2...

IAVI, Merck, and Serum Institute of India to develop monoclonal antibodies for Covid

New Delhi, Oct 22 (IANS) IAVI, a non-profit scientific research organisation and Serum Institute of India announced an agreement with Merck to develop SARS-CoV-2...

India in ”extremely comfortable position” in terms of oxygen availability: Health Ministry

New Delhi, Oct 20 (PTI) There has been no scarcity in oxygen supply in the last 10 months with the daily production capacity enhanced...

Virus can hit recovered Covid patients once antibodies start depleting: ICMR

New Delhi, Oct 20 (IANS) Patients who have recovered from Covid-19 can again get infected by the virus once the antibodies of the viral...

Covid to reduce profits of hospitals by 35-40% this fiscal: Crisil

Mumbai, Oct 20 (IANS) Postponement of elective surgeries, revenue loss from the highly profitable medical tourism segment, and increasing safety and sanitisation costs amid...

‘India can become global PPE hub, more R&D efforts needed’

New Delhi, Oct 18 (IANS) Within six to seven months, India has become a major manufacturer of personal protective equipment (PPE) kits and even...

Trending News In India

IGIA emerges as world’s second safest airport amid pandemic

New Delhi, Oct 21 (IANS) National capital’s IGIA has bagged the second position amongst the world’s safest airports.The Delhi International Airport Ltd (DIAL) said that...

IAVI, Merck, and Serum Institute of India to develop monoclonal antibodies for Covid

New Delhi, Oct 22 (IANS) IAVI, a non-profit scientific research organisation and Serum Institute of India announced an agreement with Merck to develop SARS-CoV-2...

Google brings India’s mini masterpieces to life with AI, AR

New Delhi, Oct 22 (IANS) Google Arts and Culture on Thursday announced it has partnered with the National Museum in New Delhi to showcase...

All-India energy demand up in Sep after 6 months of decline: Report

New Delhi, Oct 22 (IANS): Easing of lockdown curbs lifted India's energy demand in September after a decline of six months, said India Ratings and...

Bihar polls: Over 50% population satisfied with JD-U-BJP, reveals research

New Delhi, Oct 22 (IANS) According to a recent study reflecting the opinion and perception of people in Bihar, more than 50 per cent...

Bihar polls: Political aspirations overshadow family ties

By Manoj Pathak (IANS): Political aspirations generally force leaders to switch parties to capture power, but in the Bihar Assembly poll the aspirations are hurting family...

Trending Showbiz

Vishal Bhardwaj to adapt Agatha Christie stories as film franchise

Mumbai, Oct 20 (IANS) Filmmaker Vishal Bhardwaj is developing a film franchise based on the works of famed author Agatha Christie. The series will...

‘Laxmmi Bomb’ highlights transgender community, says director Raghava Lawrence

Mumbai: The horror comedy Laxmmi Bomb, starring Akshay Kumar, is all set to release on November 9, and director Raghava Lawrence, who makes his Bollywood...

BARC India remains committed to its stakeholders

Mumbai, Oct 18 (IANS) Broadcast Audience Research Council (BARC) India on Saturday released a statement underlining the fact that the body aimed at ensuring...

Cinemas reopen: Day one sees dull start, but trade experts positive

BY NATALIA NINGTHOUJAM (IANS) Cinemas in several states including Delhi-NCR opened doors to patrons on Friday after seven months the turnout everywhere has been...

Will thwart all attempts to finish off Bollywood: Thackeray

Mumbai, Oct 16 (IANS) Breaking his silence, Maharashtra Chief Minister Uddhav Thackeray on Thursday made it clear that he would resist any moves to finish off...

Trending Sports

RCB thrash KKR, show they are serious IPL title contenders

Abu Dhabi, Oct 21 (IANS/GloFans) Speedster Mohammad Siraj bowled a dream spell (3/8), set a few records, and guided Royal Challengers Bangalore (RCB) to an...

Dhawan’s record ton in vain as KXIP beat DC, stay float

Dubai, Oct 20 (IANS/GloFans) A resurgent Kings XI Punjab (KXIP) on Tuesday comprehensively defeated table toppers Delhi Capitals (DC) by five wickets, despite Shikhar Dhawan's...

This IPL CSK weren’t there, says Dhoni after loss to RR

Abu Dhabi, Oct 20 (IANS) Chennai Super Kings (CSK) captain Mahendra Singh Dhoni on Monday seemed resigned to his fate after a seven-wicket defeat...

Rajasthan win comfortably, stay afloat; Chennai pushed to brink

Abu Dhabi, Oct 19 (IANS) Former champions Rajasthan Royals (RR) gave themselves a new lease of life on Monday with a convincing seven-wicket win...

KXIP crowned kings after beating MI in 2nd Super Over

Dubai, Oct 19 (IANS/GloFans) In a most dramatic contest, comprising two Super Over deciders, Kings XI Punjab (KXIP) held their nerve to eke out a...

Dhawan’s maiden ton takes DC to five-wicket win over CSK

Sharjah, Oct 17 (IANS) Shikhar Dhawan scored his maiden T20 century while Axar Patel knocked off the required 17 runs off the last over...

Latest Trending News In India

Covid-hit developers dole out festive offers for home buyers

New Delhi, Oct 22 (IANS) As the pandemic and the lockdowns brought housing demand to a halt, festivities seemed just apt for real estate...

IAVI, Merck, and Serum Institute of India to develop monoclonal antibodies for Covid

New Delhi, Oct 22 (IANS) IAVI, a non-profit scientific research organisation and Serum Institute of India announced an agreement with Merck to develop SARS-CoV-2...

Google brings India’s mini masterpieces to life with AI, AR

New Delhi, Oct 22 (IANS) Google Arts and Culture on Thursday announced it has partnered with the National Museum in New Delhi to showcase...

All-India energy demand up in Sep after 6 months of decline: Report

New Delhi, Oct 22 (IANS): Easing of lockdown curbs lifted India's energy demand in September after a decline of six months, said India Ratings and...

Bihar polls: Over 50% population satisfied with JD-U-BJP, reveals research

New Delhi, Oct 22 (IANS) According to a recent study reflecting the opinion and perception of people in Bihar, more than 50 per cent...