Risk of Recession in 2024..? Report released..!

Sowmiya Sriram
Risk of Recession in 2024..? Report released..!

The Union Finance Ministry's monthly review report has said that there is a risk of recession in india again in 2024. The main reason for this is the high cost of food and fuel, and the underlying reason for the rise in the price of food and fuel is the international problems. 2024 The Union Finance Ministry's forecast of a possible economic recession has created a buzz among investors as the two economic powerhouses, india and the United States, hold general elections this year.
 It is already predicted that if there is a change of government in india, the stock market will fall by up to 25 percent and recover in a few months, the recession prediction of the Union Finance Ministry, whether the change of government happens or not, it seems that there will be a big impact on the indian economy and the investment market. And it is no exaggeration to say that the current inflation changes have put the central government and the Reserve Banks on alert.
Meanwhile, many challenges remain in meeting the central government's fiscal deficit target, with rising crude oil prices and a depreciating rupee seen as major impacts. India's high-value goods imports and low-value exports pushed the country's trade deficit gauge to a historic high in October. India's gold imports surged 60% in october alone to a 31-month high, according to Reuters. It is noteworthy that the reserve bank of india bought nine tonnes of gold in the september quarter alone.
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