FICCI Survey Estimates FY21 GDP Growth to be in Negative Territory

FICCI
  • Industry body FICCI said its Economic Outlook Survey has projected the country’s annual median GDP growth for 2020-21 at (-) 4.5 per cent with a minimum and maximum growth estimate of (-) 6.4 per cent and 1.5 per cent respectively for 2020-21.
  • With the rapid spread of COVID-19 pandemic manifesting into an economic and healthcare crisis globally, the latest forecast marks a sharp downward revision from the growth estimate of 5.5 per cent reported in the January 2020 survey.
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