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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

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This recovery is also evident in the Goods & Services Tax (GST) collections for June 2020 that clocked Rs 90,917 crore at gross levels, 46 per cent higher than May and 181 per cent over April, it noted.

Press Trust of India New Delhi
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

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