Challenges Facing the Global Economy The global economy is facing a unique set of challenges that are simultaneous and, therefore, unprecedented. The challenges are: Global output contraction following the Covid-19 pandemic. Russia-Ukarine conflict. Monetary tightening to rein in inflation. Trade protectionism. A slowdown in China. Effects of loss of education and earning opportunities during the…
Introduction Fiscal space with governments has become essential due to global risks and economic uncertainties. The Government’s fiscal policy was instrumental in economic growth and providing a safety net to the vulnerable sections in the past years. Several factors, such as the conflict in Europe, overstimulation of demand, and supply chain disruptions, have led to…
India has been a major player in services trade, being among the top ten services exporting countries in 2021, having increased its share in world commercial services exports from 3% in 2015 to 4% in 2021. The Covid-19 pandemic hurt most sectors of the economy, with the effect particularly profound for contact-intensive services sectors like…
Introduction With its firm forward linkages, agriculture and allied activities significantly contributed to the country’s overall growth and development by ensuring food security. But the performance has been buoyant over the past several years. To tackle the issue, the government intervened: to enhance credit availability, aggravate livestock and crop productivity, promote crop diversification, ensure certainty…
Introduction Climate change is a prolonged change in weather and temperature patterns that can occur due to natural reasons. The global nature of the matter makes India one of the most critical countries though it contributed only about 4 % of the cumulative global emersion for 1850-2019. However, it has consistently demonstrated global leadership by…
Introduction In India, Consumer price inflation went through three phases in 2022. A growing phase up to April 2022, when it crested at 7.8 %. A holding pattern at around 7.0 % up to August 2022. A decline to around 5.7 % by December 2022. Reasons The rising phase was due to the Russia-Ukraine war….
The Indian economy has made several strides in the last few decades. This chapter covers India’s economic growth story in the last few years and compares it with several key indicators of the last few decades. The growth story of the past few decades: Product and Capital Market Reforms since 1991: Liberalisation: It ended the…
In the wake of the global scenario of growing economic uncertainties in the past couple of years – RBI and the government has taken necessary steps to deal with the situation of growing inflation. On the lines of other central banks across the globe, RBI has adopted a dear money policy along with some other…