During April-May, the eight sectors grew by 5.7 per cent compared to 4.4 per cent in the same period last year.

Survey showed that businesses in India are very optimistic about their growth prospects, despite subdued macro-economic conditions.

We need to get to 8-10 per cent growth if good jobs are going to be provided, said Arvind Panagariya.

On the prices front, the survey noted that, firms were also helped by a lack of inflationary pressures in the sector.

The key economic challenge now is to continue reforms, brokerages and economists said on Thursday.

Ravi also refuted the contention of her EAC-PM colleague Rathin Roy that India could fall into the middle income trap.

Airport operators and oil marketing companies have lost a big customer with Jet Airways’ collapse.