'Indian CFOs cautiously optimistic about future'

Consulting firm Deloitte Touche Tohmatsu India Pvt Ltd on Thursday released the “Deloitte India CFO Survey 2013”, in which it said that around 62 per cent of the CFOs (Chief Financial Officers) expressed optimism about the future  of the Indian economy.

However, they are uncertain about the short-term impact of the government’s recent policy reforms such as increased incentives for investors in insurance, pension, multi-brand retail, reducing oil subsidies and the proposed disinvestment of public sector units involving energy and natural gas, the survey said. Around 57 per cent of respondents are neutral about the current economic condition of India, whereas only 18 per cent are optimistic. Around 136 CFOs of listed and unlisted companies, across sectors, participated in the survey.

Senior Director at Deloitte India, Sanjoy Sen, said: “The optimism and sentiments expressed by CFOs indicate that they are exhibiting caution regarding the present state of the Indian economy. Their apprehension arises from the recent slowdown of GDP growth, consistently high rates of inflation and a widening fiscal deficit, key factors that have far-reaching implications on investor confidence.”