India's business confidence "down" by 4.1% in Q4 2015, profits by 8.3%, new orders by 7.3% on y-to-y basis

By Our Representative
A top business rating company has said that India's business confidence, for the fourth quarter (Q4) of 2015 has continued to fall, with “optimism value for net profits” declining by by 8.3% and “new orders” by 7.2% on “year to year” basis. It added, the composite business optimism index, at 122.0 during Q4 2015, decreased of 4.1% as compared to Q3 2015.
Dun & Bradstreet (D&B), which is considered the world’s leading source of global business information, said, this result is “based on the responses received” by it, adding, the assessment is also based on the “the political stalemate witnessed in Parliament on two critical pieces of legislation – the Land Acquisition Act and the Goods and Services Tax Bill.
D&B has suggested that failure to break the Parliament stalemate by the Modi government is reflected in its inability “to go ahead with its reform commitments”, denting “business confidence”.
D&B adds, “That apart, monsoon deficiency, weak new investment demand and rising global financial market volatility also operated as binding constraints on business sentiment.”
Dr Arun Singh, senior economist with the D&B, clarifies, “The index does not capture the impact of rate cuts by the Reserve Bank of India as the announcement was made post the survey period.”
He adds, “For business confidence to get a sharp boost, it is pertinent for the Government to shift up several gears from the slow drip-feed of reforms to targeted measures that are aimed at encouraging investment and correcting structural deficiencies in the economy.” Dr Singh says, “Going forward, the effectiveness of supply management measures to contain the impact of deficient monsoon would also play a crucial role in shaping business sentiment.”
The D&B business optimism index is widely claimed to recognise as a reliable indicator “which measures the pulse of the business community and serves as a reliable benchmark for investors. The index is arrived at on the basis of a quarterly survey of business expectations”, a communique issued by the D&B says.
The survey was conducted on a sample of companies that were selected randomly from D&B’s commercial credit file.
“The sample selected is a microcosmic representation of the country’s business community and includes companies from several sectors including basic goods, capital goods, intermediate goods, consumer durables, consumer non-durables and service sectors”, the communique adds.
Respondents to the survey were asked six standard questions regarding whether specified parameters viz., net sales, net profits, selling prices, new orders, inventories and employee levels, will register an increase, decline or show no change in the ensuing quarter as compared to the corresponding quarter of the previous year. The indices were then calculated by subtracting the percentage of respondents expecting decreases from those expecting increases.
Customers are known use D&B risk management solutions to mitigate risk, increase cash flow and drive increased profitability. The company's sales and marketing solutions analyses markets, locate prospects and increase revenue from new and existing customers.
“In 2014, D&B featured on the World’s Most Ethical Companies list in the Business Services category by Ethisphere, for the sixth consecutive year”, the communique said.

Comments

Whither Govt of India strategy to reduce import dependence on crude oil, natural gas?

By NS Venkataraman* India presently imports around 80% of it’s crude oil requirement and around 50% of its natural gas requirements . As the domestic production of crude oil and natural gas are virtually stagnant and the domestic demand is increasing at around 7% per annum, India’s steadily increasing dependence on import of the vital energy source is a matter of high energy security concern. This is particularly so, since the price of crude oil and natural gas are considerably fluctuating / increasing in the global market due to geo political factors, which are beyond the control of India. India has promised to achieve zero emission by the year 2070, which mean that the level of emission has to start declining at slow and steady rate from now onwards. It is now well recognized that global emission is caused largely due to use of coal as fuel and natural gas as fuel and feedstock. While burning of coal as fuel cause emission of global warming carbon dioxide gas and sulphur

'Blatant violation' of law by Central government in making NREGA payments

By Our Representative In September third week, NREGA workers across the country were mobilised for two day so raise their issues and submit a memorandum to the Prime Minister. Organised the NREGA Sangharsh Morcha (NSM), a collective of groups that work with NREGA labourers across the country, workers from 13 states -- Andhra Pradesh, Bihar, Chhattisgarh, Gujarat, Haryana, Jharkhand, Karnataka, Madhya Pradesh, Odisha, Rajasthan, Telangana, Uttar Pradesh and West Bengal -- carried out Kaam Do Abhiyaan, staging demonstrations and rallies against what they called blatant violation of law by the Central government in making NREGA payments. While NREGA has had very positive impacts, it has lately become fruitless, exploiting labour, even though workers who have put in honest hard work have to wait for their wages endlessly, it was suggested. In such a situation, there is a need to firm up NREGA implementation and end systematic corruption to ensure that workers get their basic NREGA entit

Fascism on prowl? Religious meet 'deeply pained' at silence of Church, bishops, priests

Counterview Desk The ‘Forum of Religious for Justice and Peace’which held its 17th National Convention at the Montfort Social Institute, Hyderabad, Telangana from 22 to 24 September 2022 on the theme “Deepening our Identity as Religious: Responding to the Signs of the Times”, has expressed concern “at the deteriorating situation of our nation on every front”, especially stating, “Fascism seems to have come to stay” in India. At the same time, the convention, which took place with the participation of 60 persons from 16 states representing 20 religious congregations, in its unanimously-adopted statement added, “We have reached abysmal depths on every parameter: be it social, economic and political”, underlining, “The poor in India become poorer every day; the rich and powerful continue to profiteer at their expense and amass scandalous amounts of wealth.” Text: We, members (63 women and men Religious, from 16 states representing 20 Congregations) of the Forum of Religious for Justice

Muslim intellectuals met Bhagwat, extra-constitutional authority 'like Sanjay Gandhi'

By Shamsul Islam* In a significant development a delegation of five Muslim intellectuals namely former chief election commissioner SY Quraishi; former senior bureaucrat Najeeb Jung; former AMU vice-chancellor and Lt Gen (retd) Zameer U Shah; politician-cum-journalist Shahid Siddiqui (presently with RLD); and businessman Saeed Shervani [Samajvadi Party] met RSS Supremo Mohan Bhagwat at RSS Delhi headquarters. The meeting was kept secret for reasons known to the participants and was held in August. According to the Muslim intellectuals the meeting held in “a very cordial” atmosphere continued for 75 minutes whereas time allotted was 30 minutes! In a post-meeting justification of the parleys Quraishi stated that their main concern was “the insecurity being increasingly felt by the Muslim community in the wake of recurring incidents of lynching of innocents, calls by Hindutva hotheads for genocide and the marginalisation of the community in almost every sphere”. This delegation consistin

Why Bose's India Gate statue suggests RSS, BJP need violence-loving ‘Hindu’ Netaji

By Prem Singh* In a TV channel debate, a BJP spokesperson and anchor shared and served a lie that Netaji Subhas Chandra Bose's daughter in her letter to the Prime Minister has alleged that the Congress kept devaluing Netaji to further Gandhi's non-violence; because Netaji had taken the path of liberating the country through violence mode by forming the Azad Hind Fauj (INA). They also praised the Bombay Royal Naval Mutiny of 1946 to confirm that the country got its independence through a violent route. I stated that I have read the letter of Netaji's daughter, and there is no such allegation in it. But a lie told in the intoxication of power is bound to be blatant. Netaji's daughter Anita Bose Pfaff, even in the past, has already requested some earlier prime ministers of the country to bring back the mortal remains of her father from Japan to India. In none of the letters she has spoken about devaluation of her father’s role in the freedom movement on the basis of Gandh

'Massive concern for people': Modi seeking to turn India into global manufacturing hub

By Shankar Sharma* The news item quoting Narendra Modi at the Shanghai Cooperation Organisation (SCO) meet, "Want to turn India into a manufacturing hub: PM Modi at SCO Summit" should be of massive concern to our people. One can only continue to be shocked by such policies, which can be termed as ill-conceived to say the least. Without objectively considering the environmental and social impacts on our communities in the medium to long term, such policies will also result in massive economic impacts because a lack of environmental and social perspective cannot be economically attractive either. In order to become the global manufacturing hub, India will have to meet an enormous demand for energy of various kinds, and in order to meet this much energy demand the economy has to manufacture enormous number of appliances/ gadgets/ machineries (to generate and distribute commercial forms of energy such as coal, nuclear, gas, hydro, and renewable energy (RE) sources such as so

Pesticide companies' lobbying 'seriously impairing' basics of governance, regulation

Dr Narasimha Reddy Donthi* The Indian agricultural sector is grappling with low incomes, shortage of natural resources, increasing pest incidence and low public investments in research and extension. Pest attacks are increasing. Previously unknown pests are attacking crops. Farmers, indebted as they are due to various market mechanisms, are finding it hard to protect their crop investments. Thus, farmers are pushed into the conundrum of pesticide usage by pesticide markets and companies. Pesticide usage in India is increasingly becoming a regulatory problem. Regulation has not been effective in the face of such challenges. Scientific expertise on pesticides is often subsumed in the policy tradeoffs that, in the ultimate scenario, encourage production and marketing of Highly Hazardous Pesticides (HHPs). Expert Committee reports, which are recommending withdrawal of certain HHPs, are not being acted upon. Lobbying by pesticide companies has seriously impaired the basics of governance an

Buddhist shrines were 'massively destroyed' by Brahmanical rulers: Historian DN Jha

Nalanda mahavihara By Our Representative Prominent historian DN Jha, an expert in India's ancient and medieval past, in his new book , "Against the Grain: Notes on Identity, Intolerance and History", in a sharp critique of "Hindutva ideologues", who look at the ancient period of Indian history as "a golden age marked by social harmony, devoid of any religious violence", has said, "Demolition and desecration of rival religious establishments, and the appropriation of their idols, was not uncommon in India before the advent of Islam".

Is coal import dependence of more than 50% by 2047 of any relevance to India?

By Shankar Sharma* I have read the article " Building Resilience in India’s Power Sector " by N Vedachalam, released by the Observer Research Foundation, with a lot of interest. I expected it to provide few useful recommendations to our authorities in charting out a sustainable pathway to green energy transition much before the climate catastrophe push our communities to the precipice. But I am sorry to say that the overall discussions or the message implied in the article disappointed me. I was expecting the article, coming from an engineer with past experience in the power sector, to discuss the much needed recommendations to put the power sector on a sustainable developmental pathway. But I could notice mostly technical jargon and a lot of statistical information, which may already be available in the public domain. The article also seems to have simply accepted what some of the official agencies seem to have indicated as inevitable for the power sector in our country;

Swami Vivekananda's views on caste and sexuality were 'painfully' regressive

By Bhaskar Sur* Swami Vivekananda now belongs more to the modern Hindu mythology than reality. It makes a daunting job to discover the real human being who knew unemployment, humiliation of losing a teaching job for 'incompetence', longed in vain for the bliss of a happy conjugal life only to suffer the consequent frustration.

Counterview

Search This Blog