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Survey finds corporates' sentiment low

The sentiment of the Indian corporate sector is low on the current and future economic prospects for the country, a business confidence survey conducted by the Federation of Indian Chambers of Commerce and Industry has revealed.

The survey, conducted on 225 Indian corporate houses across diverse sectors such as consumer and capital goods, pharmaceutical, chemicals, intermediate goods and services has found subdued sentiment on the current macro economic growth trend.

The findings were released to reporters in Bangalore on Thursday by FICCI chairman, who said 57 per cent of the respondents were pessimistic on the prospects for immediate industrial recovery and felt the situation would persist for some more time.

Forty-two per cent of the respondents felt the slowdown is a temporary phenomenon and will not lead to recession.

According to the respondents, the urgent steps to be taken improve the situation include speeding up the implementation of infrastructure projects and speeding up the privatisation process.

Other measures included implementation of capital market reforms and infusing confidence in the minds of small investors, creating a workable exit policy for the industry and taxing income.

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