India’s GDP growth during the next fiscal will be in the range of 8-8.5 per cent, a survey by industry body Confederation of Indian Industry has said.
About 50 per cent of the Chief Executive Officers (CEOs) surveyed by the industry chamber opined that the GDP growth during 2008-09 would be in the range of 8-8.5 per cent, the Confederation of Indian Industry (CII) said in a release.
Inflation growth
Around 41 per cent of the CEOs said GDP growth would be in range of 8.5-9 per cent, while a majority of the CEOs said the median GDP growth would be 8.5 per cent during 2008-09. Sixty-eight per cent of the CEOs said inflation would be between 4 and 5 per cent during 2008-09. Half of the CEOs surveyed for the CII snap poll said they expected manufacturing growth to be in the range of 9-10 per cent in the next fiscal.
Macro conditions
“In light of the budget announcements and prevailing macro economic conditions, 79 per cent of CEOs expect an increased in investments in the economy during 2008-09,” it said.
Further, 78 per cent of the chief executive officers polled said they expected increase in demand for consumer non-durables as against 68 per cent who said there would be increase in demand for consumer durables.