Market Report India: Goods and Services Tax has hit manufacturing
More than 31% of the chief financial officers (CFOs) from various companies feel the implementation of GST is challenging and manufacturing is the most affected sector, according to a recent survey.
Furthermore, over 54% of the CFOs believe that the impact of demonetisation has been neutral, while 56% are “highly optimistic” of the country's macro-economic growth in the next four to five years, the Deloitte Annual CFO survey reported.
“The country remains optimistic about economic prospects, as it remains buoyant post-demonetisation and amongst global uncertainties,” the survey noted. Given the macro-economic trends that point to a possible global growth revival, there will be opportunities to increase exports and investment, which have been a concern for the past few quarters, it said.
This article appeared in MMInternational.