According to the date released by the recently released Confederation of Indian Industry (CII) survey, the business confidence of the Indian industry is expected to go down in the October-December quarter.

The basis of the survey stands as inflation and high interest rates which are the two biggest problems that the Indian businesses are dealing with. As per the CII's 74th Business Outlook Survey (BCI) for the October-December quarter, the business confidence index is not at its best levels especially for the manufacturing and services sector.

The survey of II is based on the responses of 150 firms wherein industry experts across industry expect the GDP to grow at a level of 8% in the current FY. While the confidence index has registered a fall of close to 1.4% standing at 66.2 which is not at all good as compared to the 1.5 point increase it got in the period of April-December.

Reasons like found inflationary conditions, slackening consumer demand, cost and availability of labour and high interest rates, stand as the major hurdles in the way of the Indian businesses.