Germany Faces “Hard Winter” Warning: Impending Gas Shortage Threatens Economy
Germany’s economy minister, Robert Habeck, has issued a stark warning, cautioning that the nation may experience a “hard winter” if a gas shortage occurs. Habeck emphasized that the government is diligently working to secure alternative gas supplies; nevertheless, he stressed the urgency for individuals to conserve energy starting immediately.
India Economy Registers 4.1% Growth in Q4 FY23: Resilient Recovery
India’s economy displayed remarkable resilience as it achieved a growth rate of 4.1% in the fourth quarter (Q4) of the financial year 2022-23 (FY23). This encouraging data was released by the National Statistical Office (NSO) on May 26, 2023.
World Bank Forecasts 7.5% Growth Rate for Indian Economy in Current Fiscal Year
The World Bank has released its latest forecast, projecting a growth rate of 7.5% for the Indian economy in the current financial year (2022-23). While this forecast is slightly lower than the April 2022 estimate of 8.7%, it still exceeds the average growth rate of 7.2% observed over the past five years.
Petrol Price Soared by 80 Paise per Litre in Delhi: Negative Impact on Indian Economy
Petrol prices witnessed a significant hike of 80 paise per litre in Delhi on May 23, 2023. This recent increase marks the tenth upward revision since the resumption of rate adjustments on March 22, following a four-and-a-half-month hiatus.