Bhubaneswar, Oct. 20 -- New Delhi: India's economic recovery has "broadened and strengthened" in September from the pandemic-induced lows seen in April 2020, ratings agency ICRA said on Tuesday.

ICRA said that as many as nine of the tracked 15 non-financial high frequency indicators recorded growth in September 2020, while five posted a narrower year-on-year (YoY) contraction in that month.

However, the agency cautioned that the sustainability of the upturn is unlikely to be universal, and that while fatigue may drive festive season sales, the momentum may subsequently subside.

Related Story: Indian Economy To Contract By 10.3% In 2020, To Bounce Back With 8.8% Growth In 2021: IMF

Aditi Nayar, Principal Economist, ICRA, said: "The rec...