ASSOCHAM: Indian Economy will flourish in th 2nd half of the Financial Year
Posted on: 02/Nov/2016 2:29:32 PM
In its latest report, ASSOCHAM has reported that the Indian Economy will flourish and prosper during the 2nd half of the current Financial Year - April 2016 - March 2017.
It indicates more sales and reaching a peak in production. ASSCHAM has commented that more attention is to be given to new investments and creating job opportunities.
The central government has been investing more in the construction domain. This would be the main reason for the economy to move up further.
In a survey conducted by ASSOCAM Bizon, 66 percent of the various companies have responded saying that the companies would peak to the best of their production. However, 55.6 percent respondents informed that there would be no major change job opportunities in this short-time. 38.9 percent companies informed that they do not expect any great change in the profit.
89 percent of the respondents have confirmed that the future is bright. They have attributed this positive aspect to the economic reforms being proposed and implemented and their efforts to improve the economic stability. ASSOCHAM President Sunil Kanoria informed that the 2nd half of the current Financial Year will be excellent after considering several factors.
The growth during the 1st quarter was 7.1 percent. This was the least growth recorded in the last 6 years. This was due to the stagnation in the mining, agricultural, and construction industries.
The Reserve Bank of India has estimated that the growth will be 7.6 percent in the current financial year. However, ASSOCHAM has not estimated the growth.
