Top CEOs Seek Large Fiscal Stimulus or Tax Sops to Jumpstart Economy

India’s top CEOs called for a large fiscal stimulus or tax Incentives from the government, expressing concern about a modest economic recovery in the next two quarters though many see a swift recovery in their own sectors, a survey by ET showed.

Eighty-two percent of the 59 top corner-room occupants who voted in the ET poll see 5-10% GDP growth in FY22 while 56% said demand for their goods and services had been impacted adversely by the pandemic’s second wave.

Just over a third of these CEOs spanning nearly all sectors, see employees fully vaccinated and returning to office by September. More than three-fourths said they will help employees get jobs.

“I personally expect the economy to bounce back as the effects of the second wave continuous subside. The Indian economy in my view will recover briskly and mirror its performance from last September,” said Keki Mistry, CEO of HDFC.

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