Effect of Russia-Ukraine war: United Nations cuts India's growth rate by 2.1 percent, inflation will increase rapidly in India

Because of the impact of the Russo-Ukraine war, the United Nations has reduced India's growth forecast by two percent to 4.6 percent for 2021-22. Earlier, the growth rate was estimated to be 6.7 percent.

The United Nations said on Thursday that due to the Ukraine-Russia war, fuel supplies to India may be affected. This can lead to a jump in fuel prices. Also, factors like trade restrictions, food inflation, tough policies, and concerns about stability on the financial front can affect the Indian economy. Along with this, it has reduced the global economic growth rate estimate from 3.6 percent to 2.6 percent, considering the increased risk on the economies of the world.

Fears of a deep recession in Russia this year

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. According to the report, Russia's economy may shrink by 7.3 percent, compared to the earlier forecast to grow at 2%.

Center will make crypto rules tighter, finance bill will be reformed

The government said on Thursday that it will tighten regulations on cryptocurrencies so that no losses can be set off in it. For this, the Finance Ministry has proposed to amend the Finance Bill-2022.

According to what has been circulated to the Lok Sabha members for reforms in the Finance Bill, the ministry will remove the word 'other' from the set-off column of the virtual digital asset's deficit.

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