America, Asia and Europe should learn to handle from India on the economic front, recession will not come

latestly

आर्थिक मोर्चे पर भारत से संभलना सीखे अमेरिका, एशिया और यूरोप, नहीं आएगा मंदी का प्रकोप

A few weeks ago there were reports from foreign media that one of the big countries of Europe was in the grip of recession. The meaning is clear that the entire Europe is devastated due to the banking crisis and Russia and Ukraine war. Now let’s talk about America, where a few days back the possibilities of its bankruptcy were not being denied. Millions of jobs and shares were at risk, but Biden colluded with the Senate and extended loan seeding by two years. Now the job details that have come in America are very frightening. In the months of April and May, more than 1.5 lakh jobs have been lost. Everyone is seeing the condition of China. The manufacturing sector is submerged, the economic figures are not good, the situation in Pakistan, Sri Lanka, Bangladesh remains critical.

From Europe to the countries of South Asia, the condition has become very bad. Remember the economic outlook of the IMF in January, in which it was said that by the middle of the year, one-third of the world’s population, that is, every third person in the population, will be in the grip of recession. Now tell me what would you say. Is there havoc in the world? Yes, of course it is, but there is another corner of the economic picture of the world, whose name is India. If we look at the economic picture of this India, such a glare will be seen, in which everyone’s eyes will be dazzled from Biden to Sunak.

Yes, the economic figures which are testifying for the month of May are becoming an example for the whole world. Inflation is the lowest in two years, record growth in the manufacturing sector, GST figures are strong and economic growth is the fastest in the world. The question is, are the figures of May coming from different economies of the world, are they confirming that there is no fear of recession in their country, but the figures of India are shouting this thing to the world. giving testimony. So let’s start putting those figures in front, in which India is expanding its chest by calling itself strong in front of the world on the economic and economic front.

Economic figures are giving testimony

  1. Inflation at the lower level of two years: Retail inflation in the country has reached a 25-month low of 4.25 per cent in the month of May. Inflation has come down by more than 2 percent in three months. At the same time, food inflation has come down to 2.91 percent, coming down from three percent. Inflation has not come down so fast in the whole world. This is proof that there have been better efforts to control inflation in the country.
  2. Industrial production also booming: Compared to March, there has been an increase in industrial production in the month of April. According to the data released on June 12, the country’s IIP has increased at the rate of 4.2 percent. While 1.7 percent was seen in the month of March. It is clear that a better environment has been seen on the industrial front.
  3. GDP figures better than expected: Talking about the last financial year or the fourth quarter of the last financial year, better GDP figures have been seen than the estimates. The country’s real GDP was seen at 6.1 per cent in the March quarter, while it was seen at 7.2 per cent in the entire financial year. RBI has estimated 6.5 percent growth in the current financial year.
  4. Tremendous growth in manufacturing sector: For the last few months, there is a continuous boom in this sector. Clear estimates have also been made by the PMI indicators. This sector is trading with 4.5 per cent in the March quarter. Whereas in the same period a year ago, this data was seen at 0.6 percent. While the manufacturing PMI also reached a 31-month high in the month of May.
  5. Growth is also being seen in the service sector: On the other hand, the service sector has also got a lot of boost. According to the government, services related to business, hotel, transportation, communication and broadcasting have seen a growth of 9.1 percent in the fourth quarter and 5 percent in the same period a year ago. By the way, in the month of May, service PMI has seen the second best figures in the year of 13.
  6. Growth seen in the mining sector: In the March quarter, this sector has seen almost double growth. There has been a growth of 4.3 percent in the March quarter. In FY 2022, 2.3 percent was seen in the same period.
  7. Boom in the construction sector: According to statistics, the construction sector has seen a growth of 10.4 percent in the March quarter. Whereas in the fourth quarter of FY22 this figure was 4.9. In the coming days, even more increase can be seen in it.
  8. Agriculture sector is also booming: The agriculture sector, which contributes significantly to the country’s GDP, has seen an increase in the fourth quarter. This figure has been seen at 5.5 per cent in the March quarter. In the fourth quarter of the financial year 2022, the growth in the agriculture sector was seen at 4.1 percent.
  9. Decline in Fiscal Deficit: Compared to the last financial year, there has been a decline in the fiscal deficit this year. In the last financial year 2022-23, the fiscal deficit has been seen at 6.4 percent of the total GDP. Whereas in the financial year 2022, this figure was seen at 6.7 percent.
  10. GST figures also increased: Talking about tax collection, more than three lakh crore rupees have been seen in the first two months of the current financial year, while the target for the current financial year is Rs 9 lakh crore. In the month of April where a figure of Rs 1.87 lakh crore was seen, in the month of May an excess of Rs 1.50 lakh crore was seen.

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