India’s economy on path of gradual recovery: IMF

PTI Updated - March 26, 2021 at 09:51 AM.

(FILES) In this file photo taken on April 15, 2020 a sign is seen outside the headquarters of the International Monetary Fund (IMF) as the IMF and World Bank hold their Spring Meetings virtually due to the outbreak of COVID-19, known as coronavirus, in Washington, DC. - The IMF on March 25, 2021 warned of "diverging recoveries" among global economies as they struggle with the ongoing Covid-19 pandemic, even as vaccines are approved. (Photo by SAUL LOEB / AFP)

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.

Also read:

Is India’s public debt a cause for worry?

“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.

Published on March 26, 2021 03:43
Tags