New
Delhi: A poll of CEOs conducted by the Confederation
of Indian Industry (CII) suggests that 57.5 per cent of
them felt the current fiscal would end with a GDP growth
rate of 6-6.5 per cent.
Another
31.8 per cent of the respondents felt that the growth
rate would be in the range of 6-7 per cent, a CII release
said.
For
the next fiscal, 26.5 per cent of the respondents of the
CII poll felt that the GDP growth rate would be between
6 per cent and 6.5 per cent, while 37.5 per cent respondents
expected 6-7 per cent GDP growth.
According
to the survey, 31.42 per cent of the respondents felt
that inflation would be between 7-8 per cent, and 38.57
per cent of the respondents said that the rate would vary
between 6-7 per cent for 2005-06.
Responding
to expectations regarding the changes in basic corporate
tax rate in the forthcoming budget, 54 per cent of the
respondents expected the corporate tax to remain unchanged
at 35 per cent, and the remaining 46 per cent expected
that it would be reduced to 30 per cent.
In
the last union budget, the government had brought down
the peak customs duty to 20 per cent.
About
57 per cent of the CEOs did not expect any reduction in
customs duty, while the remaining 43 per cent expected
that the most commonly prevailing customs duty would come
down to 15 per cent.
In
response to queries on growth rates that CEOs foresee
for their company during the current fiscal, 38 per cent
of the CEOs expected sales growth to be between 10-20
per cent and another 38 per cent expected it to be between
20-30 per cent.
Over
27 per cent of the respondents expect profits growth between
10 and 20 per cent, 17.24 per cent expect it to be between
30 and 40 per cent, and 13.8 per cent expected it to be
between 40 and 50 per cent during the current fiscal.
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