India's economy is on the path to gradual recovery, the International Monetary Fund (IMF) recently said. “India's economy is on the path of gradual recovery, real GDP [gross domestic product] growth, return to positive territory in the 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 spokesperson Gerry Rice told reporters.
The statement comes ahead of IMF’s next month’s spring meeting with the World Bank.India's economy is on a gradual recovery path, IMF has said. "India's economy is on the path of gradual recovery, real GDP growth, return to positive territory in the 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," said spokesperson Gerry Rice.#
“Beyond that, I can say that high-frequency indicators including PMIs trade and mobility suggest 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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