>

India’s economy on path of gradual recovery from COVID, says IMF

Share

India’s economy is on the path of gradual recovery to positive territory in the fourth quarter of 2020 and there is real GDP growth, and return to positive . The International Monetary Fund (IMF) has said that the Indian economy is on the path of gradual recovery from the COVID-19 related economic stress. IMF’s spokesperson Gerry Rice said that the recent emergence of the variants and localised lockdowns could pose risks to a sustained recovery. The IMF is scheduled to release its World Economic Outlook on April 6.

Beyond that, I can say that high-frequency indicators including PMIs trade and mobility suggest 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.

 

RBI governor Shaktikanta Das has also expressed concern over the resurgence of COVID infections.India’s economy is on the path of gradual recovery, real GDP growth, return to positive territory in fourth quarter of 2020. 

 

In January, the IMF had projected an 11.5% growth rate for India’s economy in 2021. The organisation had estimated that India’s economy contracted by 8% in 2020. The figure was a positive revision of its estimate in October 2020, when it had predicted that the growth rate would shrink by 10.3%.

Share