In a poll conducted by the Confederation of Indian Industry (CII) of its National Council shows that a majority of chief executive officers (CEOs) are pessimistic about the economic outlook for the country in the current year and a moderate recovery in the forthcoming year.
Chandrajit Banerjee, director general, CII said “This reflects low confidence levels in industry. The first quarter GDP growth at 5.5% corroborates the fact that the slowdown is sustaining”.
Majority of the respondents (80% and more) expect both domestic and international investment either to increase or remain unchanged during 2012-13.
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