New Delhi, May 30 (IANS): The gross domestic product (GDP) in the fourth quarter of 2018-19 (Q4FY19) is likely to be 6.5 per cent and the 2019-20 annual growth 7.1 per cent, according to a Ficci estimate, released here on Thursday.
The minimum and maximum growth have been estimated at 6.8 per cent and 7.3 per cent, respectively, for FY20 by the industry body. The Economic Outlook Survey of Ficci has predicted annual median GDP growth for FY20 at 7.1 per cent and FY21 at 7.2 per cent.
The official growth numbers for the fourth quarter will be released on Friday.
The minimum and maximum growth estimate stood at 6.8 per cent and 7.3 per cent, respectively, for FY20, it said attributing the estimates to economists from the industry, banking and financial services sectors.
The FY20 median growth for agriculture and allied activities has been forecast at 3 per cent and industry and services sectors are expected to grow 6.9 per cent and 8 per cent, respectively. The quarterly median forecast indicates a GDP growth of 6.5 per cent in Q4FY19. The FY20 IIP (Index of Industrial Production) median growth has been seen at 4.4 per cent, with a minimum and maximum range of 3.3 per cent and 5.5 per cent, respectively.
According to the report, economists’ outlook on inflation has remained moderate. Wholesale inflation rate is projected at 3.1 per cent in FY20, with a minimum and maximum range of 2.1 per cent and 4 per cent, respectively.
The FY20 Consumer Price Index (CPI) or retail inflation has a median forecast of 4 per cent, with a minimum and maximum range of 3.5 per cent and 4.1 per cent, respectively.
