The Overall Business Confidence Index (OBCI) inched up 8 notches in the current survey vis-a-vis the previous round. This is the third consecutive time we have seen an increase in the confidence level. The OBCI value climbed to 69.0 in the current survey, up from 60.8 in the last survey round. An improvement was noted in both Current Conditions Index and Expectations Index.
The respondents are clearly more upbeat about the near term prospects and this is true for expected performance at all the three levels – economy, industry and firm level. In fact, a whopping majority of 93% participants said that they expect the overall economic situation to be ‘moderately to substantially better’ in the coming six months.
The Union Budget is one of the most eagerly awaited exercises in India. The respondents indicated that they are looking forward to the first Union Budget of the current government. The participating companies maintained that they expect the Budget to be pro-growth giving due focus on ironing out the issues faced by the industry and investors. Some of the recommendations made by the companies participating in the survey are listed below-