CII’s 111th edition of quarterly Business Outlook Survey is based on more than 170 responses from large, medium, small and micro firms, covering all regions of the country.
The key findings of the survey include:
CII’s Business Confidence Index plunged to its lowest level in more than 10 years, to stand at 41.0 from 53.4 in the previous quarter.
More than two thirds of the respondents expect a contraction in their revenue and profit in the financial year 2020-21.
More than 80 percent of the respondents expect jobs to be cut in their sector in financial year 2020-21.
Majority of the respondents have indicated a decline in investment plans and capacity utilization levels below 50% during the Apr-Jun 2020 quarter.
Weak domestic demand is the prime for businesses in the next 6 months.