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Slowdown could hit jobs: Ficci survey

Last Updated 02 September 2012, 16:00 IST

Economic slowdown is expected to take a toll on job opportunities in India as revealed by the business confidence survey conducted by the Federation of Indian Chambers of Commerce & Industry (Ficci).

“The net responses with regard to prospect of employment opportunities have turned negative for the first time since the 2008-09 crisis. The current economic slowdown coupled with a negative growth in employment prospects may force the economy into a jobless growth,” the survey said.

Further, a quarter of the 150 companies that participated in the survey believed that “investments will go down in the next six months” compared to 11 per cent in the last quarter of 2011-12.

The survey said the Business Confidence Index during the April-June quarter this year stood at 51.8, down from 60.3 in  Q4 of FY’12. The respondents pegged India’s GDP at less than 5.5 per cent this fiscal. The current drought situation would also have an impact on industry, it said.

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(Published 02 September 2012, 16:00 IST)

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