April 15, 2022
For the fiscal year 2022-23, India’s GDP forecast has been slashed by the World Bank from 8.7 per cent to 8 per cent. The reason given for the change in forecast is due to rising inflation and worsening global supply caused due to the Russia-Ukraine war. South Asia’s growth outlook, excluding Afghanistan has also been slashed to 6.6 percent. According to the World Bank, India’s household consumption will be constrained due to the labour market’s incomplete recovery from inflationary and COVID-19-related pressures. High food and oil prices due to the war in Ukraine will also have a negative impact on the real incomes of the people.
India has been elected to the United Nations Economic and Social Council’s (ECOSOC) four major bodies, including the Commission on Science and Technology for Development. To the Committee for Economic, Social and Cultural Right, Ambassador Preeti Saran has been re-elected. In 2018, she....
