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Biz confidence for Jan-Mar qtr fall to 31-quarter low: D&B

Wednesday, January 11, 2017

Business confidence for the January-March quarter of 2017 plunged to a 31-quarter low as severe cash crunch heightened the degree of uncertainty amongst companies and dented their optimism, says a survey. The Dun & Bradstreet Composite Business Optimism Index stood at 65.4 during the first quarter of 2017, a decrease of 23.9 per cent as compared to the January-March period of 2016.

"Business confidence for the first quarter of 2017 plunged to a 31-quarter low as India Inc grapples with disrupted demand and production following the Government's sudden decision to withdraw high-value old currency notes," said Kaushal Sampat President & Managing Director Dun & Bradstreet – India. He further said that while the move will bring long-term benefits by reducing the size of the shadow economy and enhancing tax revenues, the immediate impact has been demand destruction due to severe cash crunch, heightened degree of uncertainty amongst businesses and dented confidence.

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