COVID-19 second wave impact | Sharp deterioration in ‘Overall Business Confidence’: FICCI
The Hindu
Participating companies stressed on the need for another fiscal package, focussing on addressing the demand side, along with employment-based incentives to employers to avert any job losses.
The worsening current conditions and muted near-term expectations due to the second wave of the coronavirus pandemic has led to a “sharp deterioration” in India Inc’s overall business confidence, according to a survey by Federation of Indian Chambers of Commerce & Industry (FICCI). As per the ‘Business Confidence Survey’, participating companies “unanimously felt that the government must, first and foremost, focus on controlling covid cases”, and only a massive vaccination drive can decouple India’s economy from another pandemic induced shock. Additionally, they stressed on the need for another fiscal package, focussing on addressing the demand side, along with employment-based incentives to employers to avert any job losses.
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