CII pre-budget CEO Poll: 41% of CEOs expect a milestone budget

From markets to India Inc - what does the industry want from the budget? CNBC-TV18 in association with industry body CII has polled over 100 CEOs to gauge the mood.

With expectations running high, does India Inc expect a milestone budget like the one in 1991 or 1997? 41 percent of CEOs say "yes", they are expecting a milestone budget, While 29 percent don't seem to think so.

A majority of 48 percent say economic recovery, so far, has been above their expectations. Another 36 percent say recovery is in-line with expectations.

What about demand? A majority of 49 percent say its near pre-COVID levels, while 30 percent say they are still hurting due to lack of demand.

On the question of whether CEOs are ready to deploy capital to expand or diversify their businesses - 54 percent say they are ready. 46 percent say they will wait for 6 more months before deciding.

What about hiring? A majority of 56 percent of CEOs say they are in "wait and watch" mode, 38 percent are upbeat about hiring.

Finally, 55 percent of CEOs say they fear rising input costs as the biggest threat to economic recovery, while 27 percent fear lack of demand and 18 percent fear lack of liquidity.

TV Narendran, President-Designate at CII, and CEO & MD of Tata Steel, Sanjiv Bajaj, Vice President at CII and CMD of Bajaj Finserv, and Chandrajit Banerjee, Director General of CII, discuss this CEO Poll results.

TV Narendran said, “The finance minister has given enough hints to say that it will be a significant budget so we are looking forward to it from that point of view.”

Sanjiv Bajaj said, “The opportunity, the one in a lifetime opportunity for this budget is to define a path for the next few years so that it is not just about getting out of this current pandemic, but it is about setting India in the right position for Atmanirbhar India, for Make in India for the next 10 years and that is where it needs to announce a whole set of new initiatives.”

Chandrajit Banerjee said, “Three critical components - lives, livelihood and growth that is going to be critical, as we look at the budget these are three critical areas that one would need to look at. Budget also needs to include the stressed section of society as well as the stressed sectors of the society. From CII what we have been very strongly talking about growth and employment that should be key priorities for the forthcoming budget.”