According to the Reserve Bank Of India's latest Survey of Professional Forecasters, Real gross domestic product (GDP) is likely to contract by 8.5% in 2020-21 but it is expected to recover next year, when it is expected to grow by 9.5%; the growth projections for both the years were revised upwards from the last round. Real private final consumption expenditure (PFCE) is assessed to contract by 9.7% during 2020-21, followed by an expansion of 9.9% in the next year. Headline consumer price index (CPI) inflation is expected at 6.6% in Q3:2020-21, but moderate thereafter to 4.5% by Q2:2021-22; the inflation projections have been revised up for all the four quarters when compared with the previous survey round.
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