When war is so destructive, its effect on the economy, then the common people also get stunned and come to know. In the globalized world, no country may be concerned with the wars happening between different countries, but all are victims. Two years ago, the world economy was adversely affected by Corona. Now life was slowly coming back on track, so the war in Russia and Ukraine disturbed it.
The United Nations has reduced India's growth forecast for the year 2022 from 6.7 percent to 4.6 percent. The United Nations, in a recently released report, said that due to the ongoing war in Ukraine, the supply of fuel to India could be affected, which could lead to a jump in its prices. Also factors like trade restrictions, food inflation, tighter policies and stability concerns on the financial front can also affect the Indian economy.
The United Nations Conference on Trade and Development (UNCTAD) in its report has lowered its forecast for growth in the global economy for 2022 from 3.6 percent to 2.6 percent due to the Ukraine crisis and changes in macroeconomic policies. The report said that Russia may face a deep recession this year, while the growth rate of some countries of Western Europe and Central, South, South-East Asia may also slow down. In the UNCTAD report, India's growth forecast for 2022 has been reduced from 6.7 percent to 4.6 percent. It is going to be more adverse in the coming times. The government will have to try to become self-reliant by promoting alternative energy.
There is news of relief for the tourism industry in India that international flights have been started after two years. Aviation companies and the tourism industry have suffered heavy losses due to the Corona epidemic severely affecting national and international flights, which have been hotels, tourism agencies, small businessmen and travel-guides associated with the historical and religious tourism sectors. India is a rich country from the point of view of tourism, with immense potential for promotion of historical, cultural, religious, medical and rural tourism. Now India has to be ready to welcome international tourists. Along with this, it is now expected that the movement of students and their families living abroad will be easy.