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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Karnataka open to making Tulu second additional official language: Minister
Bengaluru (PTI): Minister Shivraj Tangadagi on Wednesday told the Legislative Assembly that the Karnataka government is in favour of declaring Tulu as the state’s second additional official language.
He said the government is studying the measures adopted by West Bengal and Andhra Pradesh, both of which have additional official languages.
The minister was responding to a question by Puttur Congress MLA Ashok Kumar Rai during Question Hour.
Tulu is predominantly spoken in the coastal districts of Udupi and Dakshina Kannada, and legislators across party lines from these regions, including Speaker U T Khader, have been demanding that the government declare it as the state’s second additional official language.
At present, Kannada is the state’s only official language, while English is also used for official purposes as an additional language.
"I am continuously following it up. We have written to West Bengal and sent a committee of officials to Andhra Pradesh, where Urdu was recently declared the second official language. The committee has gathered information and returned, but is yet to submit its report," Tangadagi said.
He added that once the report is submitted, a meeting involving the Speaker, district in-charge ministers, and legislators from Tulu-speaking districts will be convened with Chief Minister Siddaramaiah. "I want to assure you that we are in favour of this," he said.
Earlier, noting that several states have two or three additional official languages, Rai demanded that Tulu be declared an official language at the earliest, stating that it would not impose any financial burden on the government.
"Tulu has a history of 3,000 years, has its own script, and is included in Google Translate. The language is being researched in Germany and France, and universities have allowed examinations in Tulu," Rai said, adding that this was a unanimous demand of 13 legislators from Tulu-speaking Dakshina Kannada and Udupi districts, with no opposition.
Saying it had been a long-standing demand, Rai added that a Cabinet meeting was likely to be held in Mangaluru in the coming days and urged that a decision be announced there.
BJP MLA Vedavyas Kamath also demanded early action to declare Tulu an official language. He even spoke in Tulu in the House with Speaker U T Khader, who hails from a Tulu-dominant region and speaks the language fluently.
Kamath said a committee headed by educationist Mohan Alva, constituted by the previous BJP government to examine the issue, had studied the matter in detail and compiled all relevant information.
