In a survey conducted by the Confederation of Indian Industry (CII), over 44 per cent of the CEOs affirmed an increase in their domestic investment during the current financial year.
37 per cent of respondents in the survey did not see a decline in their investment level in the current year.While 50 per cent did not predict any change in their foreign investment, 37 per cent saw it increasing during the current financial year. The survey was conducted among 75 national council members.
However, over 80 per cent of the respondents don’t see GDP growth for the current year crossing 5.5-per-cent mark.
Respondents opined that unless the reforms process is expedited and a more aggressive set of measures is put in place, there will be no turnaround in the economy before the next financial year.
Over 50 per cent revealed that fast tracking of reforms process as their first policy priority to reduce the current account deficit.
While about 20 per cent of respondents suggested liberalising foreign direct investment (FDI) regulations, about 16 percent suggested stronger intervention by RBI to address the issue.