Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

Economy on Recovery Path, Investments Likely to Pick Up: CII

CII President Rakesh Bharti Mittal said the impact of sustained structural reforms is now being felt on the ground as a mammoth economy is turning around.

PTI

Updated:May 27, 2018, 11:06 AM IST
facebookTwitterskypewhatsapp
Economy on Recovery Path, Investments Likely to Pick Up: CII
Representative image
Loading...

New Delhi: Industry chamber CII on Sunday said businesses across several key sectors are seeing firm growth in sales and orders, indicating that the economy is on a recovery path and investments will pick up.

CII President Rakesh Bharti Mittal said the impact of sustained structural reforms is now being felt on the ground as a mammoth economy is turning around.

"Businesses across several key sectors are experiencing firm growth in sales and orders, indicating better capacity utilisation and higher investment expectations," Mittal added.

Sectors like consumer non-durables, two-wheelers and tractors are witnessing strong rural consumption. Prudent macroeconomic management has encouraged growth and investments for capacity expansion are being planned as demand conditions recover, CII said in a statement.

"With several major development campaigns such as Make in India, Digital India, Swachh Bharat, Clean Energy and others gaining traction, as well as recovery in the global economy and expectations of a normal monsoon, CII expects growth to record 7.3-7.7 per cent in 2018-19," it added.

The capital goods sector is showing steady improvement and order books are filling up. Exports, too, are poised to grow at a faster pace in the current fiscal year, which started on a good note, CII added.

"The feedback from businesses is that the rebound in the economy is now firmly entrenched and the positive impact of the actions taken by the government, including major structural reforms, are being felt on the ground," Mittal added.

The government has avoided slippage in the fiscal deficit despite the rise in oil prices. Inflation too has remained under control to the extent possible even as cost of oil is going up, the CII statement said.

The industry chamber highlighted eight key areas where reform measures have unlocked growth forces. These include India's biggest reform Goods and Services Tax (GST), emphasis on ease of doing business, Insolvency and Bankruptcy Code, liberalisation in foreign direct investment (FDI) policy and high infrastructure spending.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months. Use code FREEDOM.

| Edited by: Huma Tabassum
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
Yes Bank 59.25 5.24
Indiabulls Hsg 467.85 3.84
Reliance 1,275.85 2.33
HDFC Bank 2,162.70 -0.52
ICICI Bank 395.40 -0.93
Company Price Change %Gain
Yes Bank 59.25 5.24
ICICI Bank 395.75 -0.85
Indiabulls Hsg 467.90 4.00
Bajaj Finance 3,175.35 1.85
Reliance 1,275.95 2.36
Top Gainers
Company Price Change %Gain
Zee Entertain 351.15 6.75
Vedanta 137.40 6.47
UPL 547.25 5.64
Yes Bank 59.25 5.24
BPCL 329.35 5.22
Company Price Change %Gain
Vedanta 137.50 6.55
Yes Bank 59.25 5.24
ONGC 122.30 4.66
M&M 533.10 4.09
Coal India 188.05 4.07
Top Losers
Company Price Change %Gain
IndusInd Bank 1,310.50 -1.88
ITC 236.10 -1.65
ICICI Bank 395.40 -0.93
Eicher Motors 15,383.45 -0.90
HUL 1,860.00 -0.65
Company Price Change %Gain
IndusInd Bank 1,310.35 -1.90
ITC 236.00 -1.71
ICICI Bank 395.75 -0.85
Power Grid Corp 201.40 -0.69
HUL 1,859.35 -0.69

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results