India s economy to recover gradually: IMF
India s economy is on the path of gradual recovery_ the International Monetary Fund (IMF) 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 at a news conference.
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.
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