India's top CEOs believe 8pc growth is possible

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India's top CEOs believe 8pc growth possible
New Delhi, Mar 8: Majority of the country's top CEOs have expressed confidence that India is capable of growing between 8 to 8.5 per cent in 2010-11.

In a survey conducted by the Confederation of Indian Industry (CII), a whooping majority of 92 per cent of the CEOs predicted a better outlook for the first quarter (Apr-Jun 2010) versus the current quarter (Jan-Mar 2010).

The survey was conducted during the CII National Council Meeting held on 3 Mar 2010 in New Delhi, which was attended by 100 of India's top CEOs.

The findings of the survey support the Economic Survey projections of GDP growth at 8.5 per cent in 2010-11.

64 per cent of the CEOs gave the the Union Budget 2010-11 presented by Finance Minister Pranab Mukherjee a thumbs up as it met their expectations. They also expressed confidence that Pranab Mukherjee would be able to achieve the target of reducing the fiscal deficit to 5.5 per cent in 2010-11.

Ahead of the Annual Policy Review scheduled to be released by RBI in Apr 2010, 60 per cent of the respondents opined that that the best response by the RBI would be to maintain status quo on both CRR and Policy rate changes.

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