The fear of further decline in GDP growth and low expectations from the upcoming Budget dragged down confidence of corporate leaders in the October-December quarter. The Business Confidence Index (BCI), which has been moving within a three percentage point bracket for the last nine quarters, fell further in October-December. The BCI – on a scale of 100 – was at 48.6 compared with 49.1 in the previous quarter and 48.5 in the quarter before that. Market research agency C fore quizzed 500 CEOs and chief financial officers across 12 cities for the survey.
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