Contact Your Financial Adviser Money Making MC
28 May
2018
 |
Rakesh Bharti Mittal (The Total Investment & Insurance Solutions)
Industry chambers Confederation of Indian
Industry (CII) on Monday said that it expects India's economy to grow at
7.3-7.7 per cent in 2018-19 on the back of "sustained structural
reforms", recovery in global markets and a normal monsoon. The Total Investment & Insurance
Solutions
The
industry body in a statement said that "sustained structural reforms"
have led to a rebound in the country's economy as businesses across several key
sectors experience firm growth trends.
"The
impact of sustained structural reforms is now being felt on the ground as a
mammoth economy is turning around," CII President Rakesh Bharti Mittal was
quoted as saying in a statement. The
Total Investment & Insurance Solutions
"Businesses
across several key sectors are experiencing firm growth in sales and orders,
indicating better capacity utilisation and higher investment
expectations." The Total
Investment & Insurance Solutions
According
to CII, strong rural consumption is reflected in sectors such as consumer
non-durables, two-wheelers and tractors.
"The
feedback from businesses is that the rebound in the economy is now firmly
entrenched and the positive impact of the actions taken by the government,
including major structural reforms, are being felt on the ground," Mittal
added.
The
industry body credited the growth trend on prudent macroeconomic management
which it said has encouraged "growth and investments for capacity expansion
are being planned as demand conditions recover".
"The
government has avoided slippage in the fiscal deficit despite the rise in oil
prices. Inflation too, has remained under control to the extent possible even
as cost of oil is going up," the statement said.
CII
noted that "capital goods" sector has shown a steady improvement and
order books are filling up. This sector is a key indicator of a country's
economic activity. The Total Investment
& Insurance Solutions
"Exports
too, are poised to grow at a faster pace in the current fiscal year, which
started on a good note," the industry body said.
The
CII statement pointed to eight key areas where reform measures have
"unlocked growth forces" like the introduction of the GST; strong
emphasis on ease of doing business; Insolvency and Bankruptcy Code; increase in
the the Foreign Direct Investment (FDI) limits in sectors such as insurance,
real estate and defence manufacturing.
Besides,
a rise in infrastructure spend; initiatives to strengthen micro, small and
medium enterprises (MSME) and "initiatives in agriculture have helped
improve rural incomes". The Total
Investment & Insurance Solutions
In
addition, CII said that introduction of fixed term employment across sectors
"will impart flexibility to the use of labour".
"With
several major development campaigns such as Make in India, Digital India,
Swachh Bharat, Clean Energy and others gaining traction as well as recovery in
the global economy and expectations of a normal monsoon, CII expects growth to
record 7.3-7.7 per cent in 2018-19," the statement added.The Total Investment & Insurance
Solutions
No comments:
Post a Comment