Recently the figures of India’s GDP have come out. Which has shocked not only the people of India but the whole world. Looking at the figures, it can be clearly inferred that there is no remote possibility of recession in India. On the other hand, the recession in the world’s largest economy America is slowly spreading its legs. The recession in Germany was announced only last week and the probability of recession in many countries of Europe is more than 50 percent. Let us also tell you that in which countries of the world the possibility of recession is highest and how India can remain untouched by this recession.
In which countries in the world will the effect of recession be seen?
- America : The problem of debt ceiling in the world’s largest economy may have come to an end, but due to the increase in interest rates, the banking crisis has already given a big blow and has pushed the US towards recession. At the same time, according to the World of Statistics, the possibility of recession in America has also been expressed as 65 percent.
- Britain : No person in the world would have thought that Britain too would ever face recession. This time the maximum recession of 75 percent is expected here. In fact, due to the Russia-Ukraine war, Britain has imposed sanctions on Russia. Due to which the supply of fuel and gas has stopped in Britain and inflation in the country has reached the sky.
- Germany : Due to the decline in GDP figures for three consecutive months, the world’s fourth largest economy has gone into recession. For the last two years, the trend of recession was being seen in the country, but it was announced last week.
- France : France, the largest country in Western Europe, is also most likely to go into recession. There are possibilities of more than 50 percent recession here. Financial crunch is being seen in many French companies.
- Italy : Fitch and many agencies like it claim that there is a possibility of recession in Italy, which is one of the big countries of Europe. Due to the increase in the price of fuel here, inflation has increased. It is being said by local agencies that there is every possibility of recession in Italy in the second half of the year.
- New Zealand : On the other hand, in a country like New Zealand, the risk of recession has increased by more than 70 percent. According to Bloomberg’s fresh report, New Zealand imports have increased by 6.7 percent in the first quarter of the year. Which is the highest in two years. At the same time, only 1 percent growth has been seen in exports, which is an indication that the country’s economy is moving rapidly towards recession.
Why recession will not come in India, here is the reason
- India’s GDP growth has been seen the highest at 7.2 per cent in the last financial year.
- The country’s manufacturing sector has reached a 31-month high.
- In the month of May, the government’s GST earnings reached Rs 1.57 lakh crore. For 14 consecutive months, the country’s GST has been seen at Rs 1.40 lakh crore.
- The country’s service sector has grown by more than 9 percent. There has been a lot of growth in business, transportation etc. in the fourth quarter.
- The country’s mining sector has also seen good growth and has almost doubled in the fourth quarter and is showing a growth of 4.3 percent.
- During the March quarter, the growth in agriculture sector has been seen and has come down to 5.5 percent. Earlier it was seen at 4.1 percent.
- India’s fiscal deficit has been seen at 6.4 percent in FY 2023, which was 6.7 percent in FY 2022 and it may come down to 6 percent in the coming fiscal year.