India's economy recovered very fast after tough phase of Covid-19 pandemic: Modi

Prime Minister Narendra Modi on Friday said the recovery of India's economy after the difficult phase of Covid-19 pandemic has been robust. He was speaking after a virtual ground-breaking ceremony of a boys' hostel here.

"After the difficult phase of the coronavirus pandemic, the Indian economy has recovered very fast. The world is hopeful about India because of this recovery," the prime minister said. He added that an international organisation had recently said that India is once again on its way to becoming the fastest growing economy in the world.

Also Read | Indian economy is recovering from Covid-19 crisis, says World Bank President

Modi was apparently referring to International Monetary Fund's report 'Recovery During a Pandemic Health Concerns, Supply Disruptions and Price Pressures', which made a projection that India will grow at 9.5 per cent in the current fiscal. As per the IMF's projection, India will be the fastest-growing economy among big countries of the world.

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