FICCI Cuts GDP Estimate To -4.5% For This Fiscal

Federation of Indian Chambers of Commerce & Industry (FICCI) stated that its latest Economic Outlook Survey has projected India's annual median GDP growth for 2020-21 at -4.5% as the rapid spread of COVID-19 pandemic is manifesting into an economic and healthcare crisis globally. The latest forecast marks a sharp downward revision from the growth estimate of 5.5% reported in the January 2020 survey. The pandemic outbreak has severely impacted the economic activities, FICCI noted.

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