{"id":216895,"date":"2022-12-02T21:49:08","date_gmt":"2022-12-02T16:19:08","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=216895"},"modified":"2022-12-03T08:36:47","modified_gmt":"2022-12-03T03:06:47","slug":"how-can-india-make-a-soft-landing-amid-global-economic-crash","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/how-can-india-make-a-soft-landing-amid-global-economic-crash\/","title":{"rendered":"How can India make a soft landing amid global economic crash?"},"content":{"rendered":"\n

Source<\/strong>– The post is based on the article \u201cHow can India make a soft landing amid global economic crash?\u201d <\/strong>published in The Indian Express <\/strong>on 2nd December 2022<\/strong>.<\/p>\n

Syllabus: <\/strong>GS3- Indian economy<\/p>\n

Relevance<\/strong>– Performance of economy<\/p>\n

News<\/strong>– The article explains the current situation of the Indian economy. It also exp-lains the future economic prospects.<\/p>\n

What is the current global economic situation?<\/strong><\/h5>\n

There was no disruption of economic activities by Covid-19 pandemic for the second consecutive quarter. Covid is unlikely to affect economic growth for coming times with the exception of China which is following the zero-Covid policy<\/strong>.<\/p>\n

There are also some downsides. Geopolitical tensions, high inflation<\/strong> in many parts of the world and sharp increase in policy rates<\/strong> will impact economic growth.<\/p>\n

How did the Indian economy perform in the July -September quarter?<\/strong><\/h5>\n

Economic growth slowed down to 6.5% because of a fading low base effect<\/strong>.<\/p>\n

Contact driven services such as trade, hotels and transport continued to be key drivers of economic growth. This sector has been impacted by recurrent lockdowns.<\/p>\n

Private consumption<\/strong> was quite strong. It was growing by 9.7%. It is now 11.2% above pere-pandemic level.<\/p>\n

Manufacturing GDP<\/strong> slowed sharply due to the base effect and margin pressure on manufacturing companies.<\/p>\n

Despite climate-related disturbances, agriculture growth<\/strong> was satisfactory. Rain was lopsided and led to drop in rice acreage.<\/p>\n

Food inflation<\/strong>, particularly in cereals, was high. It was due to abnormal weather.<\/p>\n

Healthy tax revenues<\/strong> have allowed higher investment by the government. Investments grew 10.4% in the second quarter.<\/p>\n

What are the future economic prospects?<\/strong><\/h5>\n

The contact-intensive service is likely to maintain its momentum.<\/p>\n

The resilience of domestic demand<\/strong> will shape the contours of GDP growth in upcoming quarters as global economic prospects are weak.<\/p>\n

Manufacturing sector will likely face challenges as poor growth in the global economy has started to impact export growth.<\/p>\n

Prospects for rabi crops<\/strong> look good because of favorable soil moisture conditions and health reservoir level. Overall, agriculture is expected to grow at 3% this year.<\/p>\n

Consumer inflation<\/strong> is likely to be averaging at 6.8% this year.<\/p>\n

Strong corporate balance sheets<\/strong> will protect them against the global economic slowdown. It will also provide an opportunity to kick-start the investment cycle once uncertainty ends.<\/p>\n","protected":false},"excerpt":{"rendered":"

Source– The post is based on the article \u201cHow can India make a soft landing amid global economic crash?\u201d published in The Indian Express on 2nd December 2022. Syllabus: GS3- Indian economy Relevance– Performance of economy News– The article explains the current situation of the Indian economy. It also exp-lains the future economic prospects. What… Continue reading How can India make a soft landing amid global economic crash?<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[216,10500],"class_list":["post-216895","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-gs-paper-3","tag-indian-express","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704837305},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/216895","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=216895"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/216895\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=216895"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=216895"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=216895"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}