India's top CEOs expect infrastructure spending and demand creation to be the big theme of budget 2022, while most view increasing raw material costs as a major obstacle to growth. That is the key finding of a CNBC-TV18, Dhruva Advisors pre-budget CEO poll.
2,800 people were polled across 22 industries. The poll was done online from the 19th of January to the 25th of January.
According to the poll, a majority 54 percent of CEOs expect growth to hover around the 7-8 percent mark this fiscal, while 32 percent expect growth rate to be above 9 percent.
39 percent of CEOs expect demand creation to be the major macroeconomic theme of the budget, while 35 percent expect infrastructure spending to get a major push.
Around 51 percent CEOs are expecting robust demand growth next fiscal while 39 percent are expecting a slow pickup in demand.
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76 percent of CEOs flagged rising input costs as the key challenge for businesses. 37 percent of CEOs say lack of skilled manpower is the big challenge and 34 percent are worried about cash flow constraints.
On the tax front, 48 percent CEOs expect direct tax rates to be rationalised. 32 percent expect personal tax reforms.
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That's not all 32 percent of CEOs are expecting long-term capital gains tax on listed securities to be abolished. 18 percent want a reduction in the surcharge on the super-rich.
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To discuss the findings of the poll, CNBC-TV18 spoke to Dinesh Kanabar, CEO of Dhruva Advisors; Niranjan Hiranandani, Co-founder & MD of Hiranandani Group, Sumant Sinha, Chairman & CEO of ReNew Power and TV Mohandas Pai, Chairman of Aarin Capital.
Read more from CNBC-TV18's budget coverage here
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