The corporate sector's performance is expected to witness a significant economic recovery in 2021-22, as per a Confederation of Indian Industry's (CII) CEO Poll.

However, cumbersome ease of doing business at the grass-roots level and high cost of doing business is affecting the animal spirits of the private sector, according to a survey by industry chamber CII released on Sunday. "Responding to the question on what is affecting the animal spirits of the private sector, majority of the CEOs (51  percent) indicated that ease of doing business was still cumbersome at the grassroots, followed by cost of doing business (other than capital cost) being high, as indicated by 32  percent of the CEOs," CII said in a statement.

About one-third of the CEOs indicated that the current capacity is still in excess of demand, it added. The survey also said about 46 percent of the 117 CEOs, who participated in the survey, expected more than 10 percent revenue growth of their respective company in the first half of the current fiscal as compared to the first half of pre-pandemic year 2019-20, the Indian Industry said. As many as 51 percent of the CEOs indicated at least 5 to 10 percent increase in capacity utilization post-second wave as compared to Pre-Covid levels.

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