Friday, July 1, 2022

India’s economy is seeing a ‘strong recovery’ take root, finance minister says By Reuters

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© Reuters. Outbreak of the coronavirus disease (COVID-19) in Mumbai

NEW DELHI (Reuters) – India is seeing a “strong recovery” taking root in the economy, as seen by increased goods and service tax collections and other metrics, Finance Minister Nirmala Sitharaman said on Thursday.

The recovery is not due to just pent-up demand, Sitharaman told a news conference, ahead of announcing a new set of stimulus measures.

Government officials told Reuters on Wednesday that India was set to announce fresh stimulus this week to help pull the economy out of a historic contraction.

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