A survey by the Confederation of Indian Industry (CII) has said that the complexity of ease of doing business at the grassroots level and the high cost of doing business is affecting the enthusiasm of the private sector.
According to the CII survey, the government’s growth-supporting initiatives and announcements have helped boost the enthusiasm of the private sector, which is expected to significantly improve the performance of the corporate sector in 2021-22.
“Responding to a query on the enthusiasm of the private sector, 51 percent CEOs indicated that there is still trouble in doing business at the grassroots level,” CII said in a statement. Believed that the high cost of doing business (besides the capital cost) was also affecting the business.
In addition, nearly one-third of CEOs surveyed indicated that current capacity still exceeds demand. About 46 percent of the 117 CEOs surveyed said that their company’s revenue in the first half of the current fiscal would grow by over 10 percent compared to the first half of the pre-pandemic year 2019-20.
