As predictions of a recession or slowdown in advanced economies grow louder, India has reason to be concerned. Globally, 2022 witnessed the highest level of inflation in 50 years, the most aggressive monetary tightening in nearly 40 years and the strongest dollar in 20 years. India faces the prospect of costlier energy and commodities, slowing investment, even higher interest rates, and severely stressed MSME and rural sectors. Significantly, jobs will be even tougher to generate. There are positives in the form of domestic demand, encouraging agricultural output and progress on reducing banks’ bad loans. However, as an individual, there’s much you should do to be prepared in the event that things go south. Please listen to the latest episode of All Indians Matter.
