Several Indian indicators seeing V-shaped recovery: FM at IMF panel meet

TIL Desk/Business/New Delhi/ Finance Minister Nirmala Sitharaman on Thursday said that several economic indicators in India are witnessing a ‘V-shaped’ recovery.

In her address at the Plenary Meeting of the International Monetary and Financial Committee (IMFC), the ministerial-level committee of the International Monetary Fund (IMF), through video-conference, Sitharaman outlined the measures undertaken by the Indian government under the ‘Aatmanirbhar Bharat’ package to foster a quick and more robust economic recovery in India.

A Finance Ministry statement noted that that she mentioned that the ‘V-shaped’ pattern of recovery is being seen in several high-frequency indicators including manufacturing PMI that reached the highest level in last eight years in the month of September 2020, presenting a strong recovery prospect for the manufacturing sector.

To stimulate consumer spending, measures worth $10 billion have been announced recently, Sitharaman added.