India's GDP to contract 8% this fiscal: FICCI Economic Outlook Survey

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India's GDP to contract 8% this fiscal: FICCI Economic Outlook Survey

PTILast Updated: Jan 26, 2021, 03:41 PM IST

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The industrial recovery is gaining traction, but the growth is still not broad based. The consumption activity did spur during the festive season as a result of pent-up demand built during the lockdown but sustaining it is important going ahead, the survey said.

A good vaccine coverage without many cases of adverse reporting will be a pre-requisite for the normalization process, survey said.

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