“The optimism amongst the CFOs continues to improve as the index stands at a 5 quarter high. The continued stability in the rupee and debt market even after Brexit has boosted the optimism level of the CFOs,” said Arvind Raghav, Director, Dun & Bradstreet India on the findings of the survey conducted by Dun & Bradstreet of corporate CFOs in which they were asked about their confidence in the overall financial and macro-economic conditions for Q3 2016.
“The thrust in policy continuity as evident in the clearance of the Insolvency and Bankruptcy Code and the marked increase in the productivity level in the parliament demonstrates the government’s intent in improving the business scenario. News about the development of the La Nina weather pattern, an imperative for the revival in the demand, scenario especially in the rural segment, has infused buoyancy to the confidence level.,” added Raghav.
The survey revealed how optimistic the CFOs are with respect to the overall financial health of their respective companies, the business risk environment and the macroeconomic scenario in the country. The survey also tried to capture the CFO’s viewpoint regarding adoption of technologies.
The survey revealed that more than two-third of the CFOs anticipate cost of funds to remain same or decrease and more than half expect availability of funds to increase, majority of the CFOs stated no change in the need for raising short term (57%) and long-term funds (62%) for Q3 2016.