Business Confidence Slips To 5-Year Low

According to FICCI''S latest business confidence survey, India Inc''s business confidence is at a five-year low and the outlook for exports, investment, employment and profit has taken a severe hit. The survey notes that industry feels the growth is slowing down. The business confidence index has declined to 61.2 from 68.4 in the last survey. The present survey, conducted in November, drew responses from over 320 companies across sectors. In order to overcome the present situation, Ficci has urged the RBI to review its credit tightening policy and called for efforts to prevent any further appreciation of rupee.