Global slowdown 2022
According to the report, India’s current year has progressed in addressing its food security concerns. The government will continue to give them the highest priority.
Rising global commodity prices and new Kharif crops will dampen inflationary pressures. The Finance Ministry stated that the transfer of higher input prices to retail inflation is almost complete in its most recent monthly economic review report, which was released on Thursday.
It said India is well placed to grow at a moderately fast rate in the following years due to macroeconomic stability. This is despite global monetary tightening. According to the report, India’s current food security concerns have been addressed this year. They will continue to be given the highest priority by the government.
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Fears of a worldwide recession have been sparked by a sharp decrease in global economic expectations, soaring inflation, and deteriorating financial conditions. India’s export prospects may suffer from the global slump. However, resilient domestic demand, a strengthened financial system, and structural reforms will impen economic growth.
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