Left-leaning liberals had resorted to stoking fear psychosis about India’s economic growth after rating agency Moody’s had downgraded India’s rating to negative in June 2020
Asserting the strongest growth rate, the seasonally adjusted IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) rose from 48.1 in June to 55.3 in July.
Georgieva said the steps taken by the Modi government on the monetary policy and the fiscal policy side is commendable. It is actually slightly above the average for emerging markets, she added.