World economy in tatters, all eyes on India as Q1 GDP numbers out today
India Today
As the world is grappling with economic woes, all eyes are on India's Quarter 1 GDP numbers for FY23 which are expected to be released today.
As the world is grappling with economic woes, the US technically looking at a recession, Ukraine war drowning Europe's economy with inflation nearing double digits, and a looming energy shortage, all eyes are on India's Quarter 1 GDP numbers.
The Q1 GDP numbers from the April to June quarter of this fiscal year are expected to be released today at 5.30 pm.
This year was supposed to be the bounce back year after two difficult pandemic phases, but the world economies haven't fully recovered yet.
Data shows that worsening droughts, storms and torrential rain in some of the world's largest economies could cause $5.6 trillion in losses to GDP by 2050.
Heavy rains have triggered floods that inundated cities in China and South Korea, while drought has put farmers' harvests at risk across Europe.
Last year's extreme droughts, floods and storms led to global losses of more than $224 billion, according to the Emergency Events Database maintained by the Brussels-based Centre for Research on the Epidemiology of Disasters.
India is touted to be amongst the fastest growing world economies with estimated GDP expected to be in double digits between 13 per cent-16 per cent.
