IMF's big statement on Indian economy, regarding recovery

New Delhi: The International Monetary Fund (IMF) has made a big statement on the Indian economy. IMF has said that India is recovering from the impact of the corona and its economy is moving towards recovery. IMF spokesman Gary Rice told in a press conference on Thursday that India's real GDP growth rate in the fourth quarter of 2020 has returned to a positive zone.

Rice added that this is a position to be on the path of recovery of the country's economy. This is the first time the country's GDP has been positive since the corona epidemic. Gary Rice said that in addition to GDP, indicators like PMI Index are also in favor of India. This is expected to continue in the first quarter of 2021.

But the second wave of the corona and locally lockdown can pose a threat to this continued recovery. In January, IMF in its report projected the country's economic growth to be 11.5 percent in 2021. IMF estimates that the country's economy could shrink by 8 percent in 2020.

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