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India’s economy on path of gradual recovery: IMF

“India’s financial system is on the trail of gradual restoration, actual GDP development, return to constructive territory in fourth quarter of 2020,” IMF’s spokesperson Gerry Rice stated.

PTI, Washington

PUBLISHED ON MAR 26, 2021 07:56 AM IST

India’s financial system is on the trail of gradual restoration, the Worldwide Financial Fund has stated forward of its subsequent month’s spring assembly with the World Financial institution.

“India’s financial system is on the trail of gradual restoration, actual GDP development, return to constructive territory in fourth quarter of 2020. And that is for the primary time really because the begin of the pandemic and it is supported by a pickup in gross, mounted capital formation,” IMF’s spokesperson Gerry Rice instructed reporters at a information convention right here on Thursday.

“Past that, I can say that top frequency indicators together with PMIs commerce and mobility suggests a continued restoration within the first quarter of this yr, ’21; nonetheless, the current emergence of the variants and localised lockdowns may pose dangers to a sustained restoration,” Rice stated.

The IMF is scheduled to launch its World Financial Outlook on April 6.

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