India witnessing V-shaped recovery in several high-frequency indicators: FM

by Nidhi Bhati

In her address to the plenary meeting of the International Monetary and Financial Committee (IMFC), Finance Minister (FM) Nirmala Sitharaman mentioned that the V-shaped pattern of recovery is being seen in several high-frequency indicators including manufacturing Purchasing Managers’ Index (PMI) that reached the highest level in last eight years in September 2020 presenting a strong recovery prospect for the manufacturing sector. To stimulate consumer spending, measures worth USD 10 billion have been announced recently, added Sitharaman. The Finance Minister also outlined the measures under the ‘Aatmanirbhar Bharat’ package to foster a quick and more robust economic recovery in India.