FICCI survey forecasts 8% GDP contraction in FY21

The gross domestic product (GDP) of India is expected to contract by 8 per cent in 2020-21, according to the latest Economic Outlook Survey of Federation of Indian Chambers of Commerce & Industry (FICCI). Apart from this, FICCI expects the economy to perform much better in the financial year 2021-22 with a GDP growth rate of 9.6 percent in FY22.

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