About 91 per cent of respondents to an India Inc survey by Deloitte said that the set of measures announced by Finance Minister Nirmala Sitharaman under ‘Aatmanirbhar Bharat’ have helped put the economy back on the path of recovery. This is a jump from the 58 per cent of respondents who were in favour of the announcements before the last budget, the consultancy agency said in a statement.
“About 91 per cent respondents (compared with 58 percent last year) believe that the ‘Atmanirbhar Bharat’ initiative, coupled with monetary policy actions by the RBI did contribute to bringing the economy back on track. They expect the Union Budget FY23 to build on to this momentum,” Deloitte said.
However, only 18 per cent of the respondents who participated in the pre-budget survey are micro, small and medium enterprises (MSMEs), said a spokesperson for Deloitte. Most of the ‘Aatmanirbhar Bharat’ measures announced by Sitharaman, starting May 2020, were aimed at smaller businesses, including the credit guarantee scheme for MSMEs, and loan schemes for tourism and other sectors that have been hit the worst by the Covid-19 pandemic.
“Optimism and confidence are ruling high amongst Indian businesses as more than 75 per cent respondents (compared with 68 percent last year) were positive about India’s economic growth and expansion, despite the surge seen in the third wave of Covid-19,” it said.