Despite the continuous adverse trends after Corona, the global economy has not collapsed

- Atapata of Arthakarana-Dhawal Mehta

- The whole world suffered due to the two recessions that originated in America

The central government of India is currently in election mode but the Manmohan Singh and Modi governments have managed the economy so well that the world is stunned. Excluding the year of Covid, India's economic growth rate is 6 percent or above, and even if the UK, France or America achieve an economic growth rate of 4 percent, there are squeals of joy. In 2020, UK's economic growth rate was negative 11.3 percent. In 2021 it reached 8.7 per cent due to a low base, but in 2022 it was only 4.3 per cent. In 2023, UK economic growth will be less than one per cent, just half a per cent, and in 2024 it will be only 0.6 per cent. While India's economic growth rate was 6.5 percent in 2023, it will be 6.5 percent in 2024, but in the latest report of the IMF, India's economic growth rate is expected to be 6.3 percent in both the above years.

The US is worried about:

USA. Its economic growth rate was 2.29 percent in 2019 while it was a negative 2.77 percent in the year 2020 of Kovid. It is estimated to be 5.95 percent in 2021 and only 2.06 percent in 2022 and only 2.1 percent in 2023. Where is the USA? UK's economic growth rate of less than three percent in 2022 and 2023 and India's three times higher growth rate of 6.3 percent in both the above years? China is also caught in an economic slowdown. Economic slowdowns turn into recessions if prolonged and recessions turn into depressions if prolonged. A depression means a decline in production and sales and dire unemployment. The depression that started in America in 1930 has damaged the whole world and the Great Recession of America in 2008-2009 also caused a lot of damage to the world economy. Even China, which once considered itself a Westerner, is in trouble. China, which for many years was booming with an economic growth rate of eight, nine or ten percent and challenging the US in terms of Chinese economy, has now become a slacker. China's economic growth rate in 2022 was only 2.99 percent (less than half that of India) and in 2020 it was only 2.24 percent. Even in 2019, it was below 6 percent. Yet China continues to indulge in its regionalist political strategy.

Meaning of the world:

It seems that the price of a barrel of crude oil will reach 100 dollars due to the Arab-Israeli war. When the price of crude oil goes above 100 dollars per barrel, the economy of India stagnates. Now it is likely to happen. India gets 80 percent of its petroleum oil from Russia. Now the oil available in this discount will also be expensive. India's demand for crude oil is 'inelastic' in economic terms, so cost-push inflation is likely to rise in India in the next six months (before central elections).

Meaning of the world:

The economy of the world is not yet in a hole despite the after effects of Covid, Russia Ukraine and Arab-Israeli war. The average economic growth rate of the world has been 3.1 percent for many years, but if not 3 percent, it will achieve a growth rate of 2.9 percent. Against this, the rate of population increase in the world is decreasing, which is a good thing. Remember that the population of the world is increasing but the rate of population increase is decreasing. The world population growth rate was 1.06 percent in 2019, less than one percent in 2020, .98 percent, and .88 percent in 2021. The economic growth rate of the world is much higher than the population growth of the world. It is a good thing, but the population of the world has now reached 804.5 crores.