India Inc sees economy growing at less than 7%


04/06/2012 09:51 AST  The Economic Times

India Inc is yet to buy into the government's reform promises as the majority expect high input cost and policy inaction to weigh on growth this fiscal amid persisting inflationary risk, showed a poll by ING Research.

Most corporates expect the rupee slide to continue this fiscal, while they maintained a robust outlook on corporate sales, the survey showed.

While nearly 80% of the 220 corporate entities polled expect the economy to grow at below 7% this fiscal, lower than the Reserve Bank of India's forecast of 7.3%, a similar majority sees headline inflation at above 7%, worse than the RBI's indication of 6.5%. India's growth in January-March slumped to 5.3%, the weakest in nearly a decade, prompting a new round of downgrades from investment banks.

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