Business sentiment in country remains encouraging in March quarter: Mixed views on outlook

Mumbai: After remaining weak for three consecutive quarters of the last financial year, the business sentiment in the country has been encouraging in the last quarter of the year i.e. March quarter, according to the data obtained.

The Business Confidence Index (BCI) rose to 149.70 in the March quarter after standing at 126.60 in the December quarter of last financial year. However, a report by the National Council of Applied Economic Research said that there is mixed opinion in the industry regarding the future of business in the next 6 months.

BCI stood at 142.90 in the March quarter of FY2022. An increase in BCI means recovery is being seen in the country's economy. This survey was conducted by the council covering about 500 companies of the country. Business sentiment has improved in terms of production, door-to-door sales, profit before tax and new orders in the next 6 months.

While the optimism of exports, imports of raw materials and price reference has remained stable. Keeping in mind that most of the companies do not have any special plans for new recruitment of employees, the employment market is also expected to remain stable in the next six months.