Finance Minister Says V-shaped Pattern Of Recovery Seen In India

Union Minister of Finance & Corporate Affairs Nirmala Sitharaman yesterday attended 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, in her intervention at the meeting, briefly outlined the measures under the AtmaNirbhar BharatPackage to foster a quick and more robust economic recoveryin India. 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.

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