Recession in India
The global economy is going through turmoil, with major economies such as the US, UK, Europe, and China facing an economic slowdown. After a very long time, advanced economies like the US and Europe are struggling with inflation.
While inflation remains the core issue, various other factors, such as the Russia-Ukraine war, the aftermath of Covid-19, and growing instability among countries, have fueled inflation rates across the globe and created waves of negative sentiments in stock markets across the world. Many European central banks, such as its Federal Reserve and the UK’s Bank of England, are raising their interest rates substantially.
In this globalized era, the economies of the world are interconnected to each other, and in a globalized economy, no country suffers alone, which is a reason why inflation in major developed economies of the world is a cause of concern for an economic recession in India as well especially because of the impact on IT giants of India such as TCS, Wipro, Infosys, and HCL.
Recession means the decline in economic activities of a country for a prolonged period of time that hampers the economic growth of a country.
Read in Detail: is recession coming in india
