India would see improvement in its growth performance: Survey

NEW DELHI: Corporate India's confidence on the state of economy is on an upswing with a majority of the companies surveyed by industry body Ficci agreeing that the government stimulus has spurred economic activities.
"Going ahead India would see an improvement in its growth performance," the chamber's Business Confidence Survey for the first quarter of 2009-10 said.
The business confidence index for April-June period moved up to 67.2 from 64.1 in the last quarter of 2008-09.
However, poor progress and spread of monsoon this year could be a dampener for the economy, it found on the flip side.
With regard to expectations about the overall economic conditions, the survey said, "we see that close to 73% of the companies feel that things would improve in the coming six months."
With major segments of the economy posting good growth numbers in the first quarter of this fiscal and global recession showing signs of easing, performances are likely to improve in the near term.
Four out of five respondents felt that the fiscal stimulus measures announced by the government are having a tangible effect with India's economic performance, it said.
In the first quarter of this fiscal, India's GDP grew by 6.1% despite the global financial meltdown.
In the survey 372 companies from sectors like textiles, cement, steel, leather, chemicals and fertilizers, oil and gas, auto and machinery are participated.