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India Inc's confidence on the economy has improved in the last six months owing to the government's stimulus packages, according to a survey by industry body Ficci.
With as many as 80% of the respondents expressing satisfaction over the government's stimulus measures, the business confidence index for the April-June period moved up to 67.2 from 64.1 in the last quarter of 2008-09 (January-March).
A majority of the respondents recorded positive financial performance in the past six months and expect further improvement in performance in the coming months, the survey results showed.
However, it was felt that delayed monsoons, rising cost of raw materials, manpower and credit could have an adverse impact on industrial growth. About 372 companies from sectors such as textiles, cement, steel, leather, chemicals and fertilizers, oil and gas, auto and machinery participated in the survey.
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