The CII Business Confidence Index (BCI) has improved to 57.2 in April-June 2016, from 54.1 in the previous quarter. It said optimism in business sentiment this quarter has been backed by strong expectations of economic growth for 2016-17. "Firms, when asked to rank their concerns, rated low domestic demand, fragile global economic recovery and lack of political consensus on economic reforms as their top three concerns." Business conditions are also expected to improve as 61% of the firms expect an increase in sales in April-June 2016 compared with only 42% in January-March. Indian industry remained upbeat about the business environment in the June quarter on account of wage hike as recommended by the Seventh Pay panel, progress of a favourable monsoon and proactive reforms agenda of the government, says a report.

Source: dna July 17, 2016 11:33 UTC