Indian economy looking at ‘V-shaped’ recovery, says Anurag Thakur

By: |
Updated: Mar 13, 2021 12:36 PM

There are green shoots visible in various sectors of the economy and the country is already looking at a 'V-shaped' recovery, Minister of State for Finance and Corporate Affairs Anurag Thakur said on Saturday.

anurag thakurThakur said the country' foreign exchange reserves, which have been steadily increasing over the last few months, had touched all time high at USD 590 billion in January 2021.

There are green shoots visible in various sectors of the economy and the country is already looking at a ‘V-shaped’ recovery, Minister of State for Finance and Corporate Affairs Anurag Thakur said on Saturday.

“India is already looking at ‘V-shaped’ recovery. Along with the green shoots in various sectors, in the month of February, FPI inflows were Rs 25,787 crore,” Thakur said at a virtual conclave organised by the Institute of Actuaries of India.

After two consecutive quarters of contraction, the country’s gross domestic product (GDP) entered into a positive territory with a growth of 0.4 per cent in the October-December quarter of the current fiscal, according to the data released by the National Statistical Office (NSO) in February.

Thakur said the country’ foreign exchange reserves, which have been steadily increasing over the last few months, had touched all time high at USD 590 billion in January 2021.

He said the accretion to the forex reserves in the last eight month was USD 100 billion. “These are signs of confidence that the global funds and investors look at India as a destination to invest and they are bullish about India’s growth story,” Thakur added.

Do you know What is Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget, Customs Duty? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Flavoured milk taxable at 12% under GST: AAR rules in Amul dairy case
2Absence of clarity on resumption of mining to put Goa in huge debt, say mine owners
3Second COVID wave could spark greater uncertainty; govt will respond with fiscal steps if required: Niti Aayog vice chairman