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India needs bold, multifaceted policy response to secure robust economic recovery: IMF

India must ensure that the Covid-19 pandemic is well contained and the distribution and rollout of vaccines are well managed if it wants to achieve a double-digit growth rate for the next fiscal year, the IMF said on Thursday, insisting that securing a robust and sustained economic recovery will require a bold and multifaceted policy response.

The International Monetary Fund (IMF) on Tuesday projected an impressive 11.5% growth rate for India in 2021, making the country the only major economy of the world to register the double-digit growth this year amidst the catastrophic coronavirus pandemic.

“To achieve a double-digit growth rate for the next fiscal year, it would be important to ensure that the COVID-19 pandemic is well contained and the distribution and rollout of vaccines are well managed in a timely manner,” Paolo Mauro, Deputy Director of the Fiscal Affairs Department at the IMF, told PTI in an interview.

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