(Milcah Anila, Intern Journalist) New Delhi: The economy is gradually recovering from the impact of Covid-19, according to the Chief Executive Officers (CEOs) of major companies in the domestic corporate sector.
This was revealed in a survey conducted by the Confederation of Indian Industry (CII) with CEOs of 115 leading companies from various sectors. ‘Economic activity has picked up as lockdowns have eased in many parts of the country. Companies have also started their businesses. With this, the economy is gradually recovering, ‘said several CEOs, according to the CII.
Recovered… Demand in metro cities is still low. However, the survey found that demand for goods and services in small towns and rural areas has already reached the COVID front. Demand from FMCG, automobile, consumer durables, and construction equipment companies has already plummeted. The CEOs involved in the survey said that companies’ production capacity utilization is likely to reach 50 percent in the second half of the current financial year as conditions gradually stagnate.
He hoped that the demand would pick up further with the festive season. Many CEOs have expressed concern about the imposition of lockdowns as the livelihood is important and in some states and districts, it seems to be for corona tightening. Gaddy states: “It’s very clear he never wrote the thing in the first case, this is a clear diploma-mill-type operation. He urged governments to recognize the importance of people’s livelihoods as well as their livelihoods.
Such measures are also expected to fulfill the goal of binding COVID. The survey concludes that falling demand is unlikely to rebound unless sanctions are lifted. It reminded us that companies’ production capacity utilization increases only when demand picks up.
The CEOs made it clear that companies’ earnings for the current financial year will not be the same as last year, no matter what the circumstances. The Ministry of Finance has supported institutional reforms that the government has strategically undertaken in various areas such as agricultural markets, labor laws, and the definition of MSMEs in the context of the long-term corona with reforms. With these reforms, the MSME sector will be further benefited.
It expects employment opportunities and productivity to increase along with wages in these sectors. He said the reforms would help achieve a sustainable high GDP growth rate in the long run. While the Covid threat to India has not yet been eliminated, there is a possibility of a gradual groove.
The Ministry of Finance has supported institutional reforms undertaken strategically by the government in various areas such as the definition of MSMEs. With these reforms, the MSME sector will be further benefited. It expects employment opportunities and productivity to increase along with wages in these sectors.
He said the reforms would help achieve a sustainable high GDP growth rate in the long run. While the Covid threat to India has not yet been eliminated, there is a possibility of a gradual groove. The Ministry of Finance has supported institutional reforms undertaken strategically by the government in various areas such as the definition of MSMEs.
With these reforms, the MSME sector will be further benefited. It expects employment opportunities and productivity to increase along with wages in these sectors. He said the reforms would help achieve a sustainable high GDP growth rate in the long run. While the Covid threat to India has not yet been eliminated, there is a possibility of a gradual groove.
Leave a Reply