Over 80% CEOs expect 2018-19 growth to be higher than 7%: CII Poll
Mumbai, June 11: Industry body Confederation of Indian Industry's (CII) "CEOs opinion poll" on Monday showed that 82 per cent of the chief executives expect GDP growth to be higher than seven per cent for 2018-19.
As per the poll data, out of the 82 per cent, 10 per cent of CEOs expect the growth rate to even go above 7.5 per cent.
Besides, 92 per cent of CEOs polled expect further increase in consumption demand during 2018-19.
On private investment, the data disclosed that 60 per cent of CEOs believe that it will increase during the coming year.
In terms of employment generation, 56 per cent of the CEOs polled expect jobs to increase during 2018-19 and just 18 per cent believe that it will be maintained at the current levels.
According to the industry body, positive sentiments on the Indian economy were "universally expressed" at a meeting of its National Council (NC) held in Pune on June 4, and attended by more than 80 senior corporate leaders.
The "CEOs opinion poll" was held during the CII meeting.
"The economy is in a sweet spot right now as the adjustment process regarding major reforms of the past few years is largely stabilised and industry is ready for a fresh phase of investment while capacity utilisation builds up," CII President Rakesh Bharti Mittal was quoted as saying in a statement.
"Industry is looking forward to GDP growth rate picking up to close to eight per cent over the next couple of years. Fiscal prudence, able macroeconomic management, and strong reforms process have set a sound foundation for growth."
"Exports registered 10 per cent growth over 2017-18 as the global economy is recovering and we expect the momentum to pick over the current year. Going forward, we must leverage stronger overseas demand and shifting global value chains through trade facilitation and competitive products."
Additionally, the CII NC meeting lauded the landmark policy of "Fixed Term Employment" which has recently been extended to all sectors.
Sector-wise, the overall opinion of CII members on the manufacturing sector was that "demand is healthy, although input costs are rising".
Mittal said: "Most manufacturing sectors are firing up now, with automotives, FMCG, electronics and chemicals leading the way. Rural demand can be expected to remain resurgent on the back of normal monsoons as forecast, while public spending on infrastructure is boosting prospects for capital goods and downstream sectors."
Regarding the infrastructure sector, CEOs stated that there is a "discernible pick-up" now as compared to a few years ago.
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Tourists barred from Karnataka dams amid Operation Sindoor fallout
Bengaluru, May 10 (PTI): Karnataka Deputy Chief Minister D K Shivakumar on Friday said tourists will be barred from visiting dams and reservoirs in the state due to heightened security concerns following Operation Sindoor.
He clarified that only technical experts and engineers would be permitted entry.
“We have issued clear directions to all dam authorities, as well as to the police and security staff, not to allow tourists near the reservoirs—only our technical experts and engineers are allowed,” Shivakumar told reporters here.
He appealed to dam staff and the public to cooperate, stressing the need for heightened caution in light of the current situation.
As the Minister in charge of Bengaluru, Shivakumar added that all necessary steps had been taken to ensure the safety and security of Karnataka's capital.
Meanwhile, the Karnataka Power Corporation Limited (KPCL) said security had been beefed up at power stations and reservoirs.
“In a proactive response to Operation Sindoor and heightened border tensions with Pakistan, the Karnataka government has stepped up security at reservoirs and power stations under KPCL's jurisdiction,” the corporation said in a statement.
KPCL has issued an official directive stressing the critical need to secure sensitive installations, mandating comprehensive security measures with additional personnel deployed in coordination with the state police.
The directive warned that any lapses in security would result in accountability for the responsible officials.
KPCL operates power generation units using hydro, thermal, wind, solar, gas, and waste-to-energy sources, with several reservoirs supporting hydroelectric production.
“All power plants and reservoirs should be provided with robust and adequate security,” the directive stated.
In response, officials overseeing major reservoirs and power stations have discussed with police departments to assess and enhance existing security arrangements. They have also requested the police to cooperate in strengthening these measures.
KPCL further said it has issued an order restricting public access to its reservoirs and powerhouses, including educational visits by engineering students and dignitary tours.
“While such visits are typically for academic or official purposes, this decision aligns with central government directives to tighten security at sensitive locations. The restriction, aimed at ensuring public safety, also enhances surveillance at these critical infrastructure sites,” KPCL said.
