India's economy recovered very fast after tough phase of COVID-19 pandemic: Modi

Modi was speaking after a virtual ground-breaking ceremony of a boys' hostel here. ''After the difficult phase of the coronavirus pandemic, the Indian economy has recovered very fast. The world is hopeful about India because of this recovery,'' the prime minister said. 

He added that an international organization had recently said that India is once again on its way to becoming the fastest growing economy of the world. Modi was apparently referring to International Monetary Fund's report 'Recovery During a Pandemic Health Concerns, Supply Disruptions and Price Pressures', which made a projection that India will grow at 9.5 percent in the current fiscal. As per the IMF's projection, India will be the fastest-growing economy among big countries of the world.