CII declared India’s GDP growth likely to range between -0.9 to 1.5 pc in FY21

The Confederation of Indian Industry (CII) has projected India’s GDP to range between -0.9 percent to 1.5 percent in the current financial year 2020-21.
The industry body released a paper titled ‘A plan for economic recovery’ in which it has laid out its growth expectation under three scenarios and suggested “urgent” fiscal interventions.
In the baseline scenario, GDP is expected to grow at just 0.6 percent on an annual basis due to restriction on economic activities.
In the optimistic scenario, GDP is forecast to register a growth of 1.5 percent in the best case, based on faster pick-up post the lockdown period.
In case of a more prolonged outbreak, where the restrictions in existing hot-spot regions get extended, while new regions are identified as ‘hot-spots’ leading to intermittent stop and start in economic activity, GDP is likely to decline by -0.9 percent.