Global Recession 2022: Amidst the worry of global recession, good news brought about India, know what
Global Recession 2022: India will emerge as the strongest economy with a growth rate of 7 per cent in 2022-23 amid fears of the world going into recession. Sanjeev Sanyal, member of the Economic Advisory Council to the Prime Minister (EAC-PM), said this on Sunday. Sanyal said that the way the external environment was positive in the early 2000s, when the global economy was growing, India can register a growth of nine percent in the environment. “There is definitely going to be an environment where many countries around the world will face low growth but may even go into recession,” he said.
India will be the best
He said, “There are many reasons for this, from tight monetary policy to high energy prices and disruption caused by the Ukraine war.” Gave. According to the latest estimates, the Indian economy will grow at 6.5 per cent in the fiscal year 2022-23, which is one per cent lower than the June, 2022 estimate. Sanyal said, “India will be the best performer in such a situation, it will be the strongest among the major economies in the current financial year with a GDP growth rate of 7 percent.”
India’s economy is more belligerent than before
He said that due to the supply side reforms undertaken by the Narendra Modi government over the years, India’s economy is more resilient and more resilient than before. He said that if India gets the same external environment as it was between 2002-03 to 2006-07, when the global economy was growing, global inflationary pressures were less, in that case the economy could grow at the rate of nine per cent. Sanyal said, “But there is no such situation right now, considering the growth of 7 per cent will be called a good performance.” On the rupee hitting the all-time low, Sanyal said, “I don’t think we should just dollar. It should be given preference based on the exchange rate of the rupee.” Sanyal said that the dollar is strengthening faster than other currencies. Under these circumstances, the rupee may actually strengthen against other currencies except the dollar.
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