CEOs expect better job creation prospects, monetary tightening in H1 FY23: CII pol
A majority of CEOs in a poll conducted by CII anticipate improved job creation prospects in their companies in the first half of FY23 ending September, even as expectations of monetary tightening are pervasive, the industry body said on Sunday.
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New Delhi
A majority of CEOs in a poll conducted by CII anticipate improved job creation prospects in their companies in the first half of FY23 ending September, even as expectations of monetary tightening are pervasive, the industry body said on Sunday.
The recent poll was conducted by CII at its Second National Council Meeting for FY23, which saw a participation of 136 CEOs from across the country. "Further, GDP growth is expected to be in the range of 7 per cent to 8 per cent as revealed by 57 per cent of the CEOs while only 34 per cent of them anticipate below 7 per cent expansion in the economy," said CII. Besides, about half of the CEOs (49 per cent) felt that rural demand would be better in H1 FY23 as against the same period last year.
The results reveal that while expectations of monetary tightening are pervasive, given the sharp increase in inflation and heightened inflation expectations, overall outlook for H1 (April-Sept) FY23 looks robust, CII said. A major percentage of the CEOs revealed an upbeat sentiment -- as 44 per cent of them felt that their company's revenue growth would be in the range of 10 per cent to 20 per cent during first half of FY23.
