Green shoots of economic revival have emerged, will grow further: Govt

The report further said that India's forex reserves at $505.6 bn as on June 19 continue to provide a crucial cushion to external shocks on the back of higher FDI, portfolio flows and low oil prices

The government on Monday said green shoots have emerged and will grow further on the back of a conducive policy environment, nudging the coronavirus-hit economy to move on the path of recovery and growth.
 

India's growth has been forecast at (-) 4.5 per cent in 2020, a 6.4 percentage points downward revision compared to the April 2020 forecast as per the World Economic Outlook (June 2020) report of the the International Monetary Fund (IMF).

Given the immense uncertainty associated with infection and macroeconomic recession curves of countries across the world, the IMF has revised downward global growth to () 4.9