Recently most of the countries confront an unprecedented economic crisis, though the intensity of the same has, of late, palliate itself. There occurred a serious devolution of the value of money. It is delinquent to the sky kissing prices of crude oil and food: the devil pivots of earthly economy. Paddy prices have escalated to 1000 a tons qualification the poor countries to spend 60 percent of income on food. likewise OPEC who is determined to prosper at the cost of global fraternity
This ruinous competition mingled with the two kills the human spirit by escalating the inflation. Besides these evident causes, underneath lie some important factors, which are answerable for the recent global economic crisis. Most of the countries like Iraq, Iran, Afghanistan, India, etc, are at the grasp of terror. They are all battle ridden. And this destroys the spine of economy. Similarly, the weather dependent cultivation is also at the starting time of economic crisis. Countries like India also faced the problem of abusive money. The result of this global economic crisis is far-felt and very penetrating. Most of the countries have to suffer this. India is better placed when compared to other foreign countries. However what is affecting India’s growth is lack of strong Central power. The central government is not able to take decisions confidently for the economic progress of the country on account of coalition politics. Inflation is on the rise. Price of essential commodities, food cereals has gone up. Price of petrol and diesel is also rising steadily on account of global trends and this in turn results in increase of price of other services and commodities. RBI should effectively monitor the situation and try to negative the effect of inflation and direct the economy to progress in the right direction.
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