According to a survey conducted by the Confederation of Indian Industry (CII), most of the Indian industry players believe that the GDP growth in the country during 2012-13 will be low.

About 43 per cent of the respondents said that they believe that the GDP will grow between 6 and 6.5 per cent, 40 per cent of them expected the growth to fall below six per cent. About 13 per cent of respondents said that they believe that the GDP growth rate will be between 6.5 and 7 per cent and only 5 per cent believe that GDP growth will be above 7.5 per cent.

It can be noted that some of the respondents are common and thus the total percentage exceeds 100 per cent. The industry body said that the survey was conducted across various sectors on the economy accounting for 50 per cent of the country’s total production. The survey included a total of 110 respondents.

"About 43 per cent of the respondents expected net sales growth to stagnate or decline during the year 2012-13. Similarly, 57 per cent of the senior industry leaders expected the bottom line growth to either stagnate or decline. This clearly indicates that there will be pressure, leaving less room for capital expansion," CII said in the survey.

About half of the respondents said that they hiring activities during the year will remain stagnant. On investment, 47 per cent said they will main the same level as previous year while 43 per cent said they are planning to increase investment.

Meanwhile, CII has announced a new 10-point plan for the revival of the India economy following weak GDP growth figure in the fourth quarter. The plan includes faster implementation of the Goods and Services Tax (GST) and make t easier for foreign firms to invest in the India aviation sector. Adi Godrej, President CII has said low economic growth would affect job creation, inclusive growth and social up-gradation.