Indian Economy Is Taking Baby Steps Towards Economic Recovery
The Indian economy is taking “baby steps” towards economic recovery, while weak private investment activity and deteriorating trade performance remain an area of concern, says a Dun & Bradstreet report. According to the report, there have been some positive changes in momentum in certain segments within the economy, but some areas of concern remain. “The easing of FDI norms, power and road sector reforms have laid foundation for long-term sustainable economic growth,” Dun & Bradstreet India Senior Economist Arun Singh said. A number of stalled projects have been de-bottlenecked and fast-tracked while hopes of a recovery in demand conditions have gathered strength particularly owing to Seventh Central Pay Commission payouts next fiscal, he said.