CII survey predicts a dismal GDP growth in 2012-13


13/06/2012 08:03 AST  Steelguru

Business Standard reported that economic growth slipped to a nine year low of 6.5% last financial year, but India Inc fears further deceleration in the GDP expansion during 2012-13, shows a survey. Industry wants the government to unleash a slew of policies to perk up the economy facing adverse circumstances.

In the survey conducted by the Confederation of Indian Industry 43% of 110 respondents felt that India's GDP growth would fall below 6.5% but would not go below 6%, while 40% of them expected it to nosedive to less than 6%.

Only 13% of respondents were optimistic that the economy would grow in the range of 6.5 to 7% and just 5% expected the GDP to expand in the range of seven to 7.5%. Some of the respondents would be common, so the sum total has exceeded 100%.

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