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Indian economy severely affected by pandemic but gradually recovering: IMF
Dec-04-2020

The International Monetary Fund (IMF) has said India's economy, severely affected by the coronavirus pandemic, is gradually recovering. India's economy recovered faster than expected in the September quarter as a pick-up in manufacturing helped GDP clock a lower contraction of 7.5 per cent and held out hopes for further improvement on better consumer demand.

IMF chief spokesperson Gerry Rice said fiscal, monetary, and financial sector measures announced to date provided much-needed support to the economy, including businesses, agriculture, and vulnerable households.

Rice said ‘To further support growth, we believe the Indian authorities should prioritize swift implementation of the existing support programs and may need to consider expanding their scope, as warranted.’

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