FICCI survey forecasts India’s GDP growth at 7.1% for FY20

The country’s median GDP is forecast at 7.10 percent for Financial Year 2020 and 7.20 percent for Financial Year 2021. The industry body FICCI’s economic outlook survey stated that the minimum and maximum growth estimate stood at 6.80 per 0cent and 7.3 percent for 2019-20.

The survey was conducted in May 2019 among economists belonging to the industry, banking, and financial services sectors. Inflation is expected to remain moderate and the Wholesale Price Index (WPI) based inflation rate is projected at 3.1 percent in 2019-20, While, the Consumer Price Index (CPI) based inflation has a median forecast of 4 percent for 2019-20.

Important Takeaways for SBI PO/Clerk Mains-
1. FICCI stands for Federation of Indian Chambers of Commerce and Industry.
2. Headquarters of FICCI is in New Delhi.
3. FICCI established in 1927.

Source- The Economic Times

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