India's FY21 GDP growth to be in negative territory at -4.5%: Ficci survey

The Covid-19 pandemic outbreak has severely impacted the economic activities

Industry body Ficci on Sunday said its Economic Outlook Survey has projected the country's annual median GDP growth for 2020-21 at (-) 4.5 per cent.

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, it said.

The pandemic outbreak has severely impacted the economic activities as the country had to go through a lockdown to check spread of the virus. However, the restrictions are being gradually eased.

While addressing SBI Banking and