India’s economy is on the path of gradual recovery, the International
Monetary Fund has said ahead of its next month’s spring meeting with the
World Bank.
”India’s economy is on the path of gradual recovery, real GDP growth,
return to positive territory in fourth quarter of 2020. And that’s for the first
time actually since the start of the pandemic and it’s supported by a pickup
in gross, fixed capital formation,” IMF’s spokesperson Gerry Rice told
reporters at a news conference here on Thursday.
”Beyond that, I can say that high frequency indicators including PMIs trade
and mobility suggests a continued recovery in the first quarter of this year,
’21; however, the recent emergence of the variants and localised lockdowns
could pose risks to a sustained recovery,” Rice said.
The IMF is scheduled to release its World Economic Outlook on April 6.
Source: The Financial Express, India Friday, 26 March 2021