The optimism level of CFOs for the second quarter of this year remained almost unchanged compared to the year-ago period but more of these executives expect higher financial risk for the corporate sector, says a report.
Research firm Dun & Bradstreet today said its Composite CFO (Chief Financial Officer) Optimism Index for the second quarter increased "merely by 0.1 per cent on a year-on-year basis and by 0.4 per cent on a quarter-on-quarter basis".
The survey shows how much CFOs are optimistic about overall financial health of their respective companies, business risk environment and the country's macroeconomic scenario.
"Optimism level amongst CFOs remained at the same level during Q2 2017 as compared to previous quarter and same quarter in previous year," D&B said in a release.
The percentage of CFOs who expect level of financial risk for corporate sector as a whole to increase, or remain same for the second quarter, stood at 85 per cent. The same was at 78 per cent for the first quarter, it added.
D&B India's Director Arvind Raghav said that since the survey was conducted during March and April 2017, uncertainty prevailing amongst businesses regarding decision on GST rates and other changes that the new tax regime would demand might have dented the optimism level of the CFOs.
"Further, underlying moderate consumption and investment demand continue to dent the overall optimism levels," he added.
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