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DNA Special: How Russia-Ukraine War has left the world reeling under inflation, while India remains the 'bright spot'

Due to the Russo-Ukraine war, there has been a shortage of crude oil and other fuels all over the world.

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DNA Special: How Russia-Ukraine War has left the world reeling under inflation, while India remains the 'bright spot'
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The condition of some European countries has worsened due to the Russo-Ukraine war, which supported Ukraine and imposed sanctions on Russia. At the same time, Russia also stopped the fuel supply in these countries.

And one such European country is France which is a developed nation where people are rich. That's why it wasn't ranked in the Global Hunger Index.

But due to the Russia-Ukraine war, the condition of France has become such that millions of people there are protesting there on the streets. In Paris, people are protesting against inflation. People are not getting fuel like oil and gas. People have to wait for hours at many petrol pumps and gas stations.

Due to inflation, it has become difficult for people to live. And now, the condition of France, which is one of the richest countries in the world, is worse than many poor countries of the world today. In many places, this demonstration turned violent too.

The demonstrations in France have been going on for the past several days against inflation, and shortage of fuels like oil and gas. The protest was also joined by this year's Nobel Prize winner in Literature, Annie Arnoux.

The Indian government is repeatedly targeted due to inflation in the country, but this needs to be understood that inflation is the problem of the world today. Today, you go to a petrol pump or gas station easily to refill your vehicle. But such a situation is not there even in many rich countries of the world. There is a huge shortage of petrol-gas and other essential goods.

READ | India asks citizens to leave Ukraine 'at the earliest' as war escalates

Due to the Russo-Ukraine war, there has been a shortage of crude oil and other fuels all over the world. At the same time, its price has also increased a lot. Apart from this, the dollar has become stronger than other currencies. As a result, inflation has become the biggest problem in many countries.

In India, whose population is more than the population of all European countries, efforts are being made continuously to control inflation, and it has also been praised by the International Monetary Fund (IMF).

Earlier, IMF managing director, Kristalina Georgieva had said, "India deserves to be called a bright spot on this otherwise darker horizon because it has been a fast-growing economy, even during these difficult times, but most importantly, this growth is underpinned by structural reforms." 

A survey has been done on the basis of the last three months on what percentage of people in European countries are facing difficulty in living life.

According to this survey, 70 percent in Italy, 57 percent in France, 48 percent in Spain, 46 percent in Germany, 43 percent in Britain, 41 percent in Denmark are facing problem in paying electricity bill in the last 3 months.

It also said, 62 percent in Italy, 61 percent in France, 40 percent in Spain, 52 percent in Germany, 42 percent in Britain, 38 percent in Denmark are finding it difficult to buy ration due to inflation in the last 3 months.

The survey also revealed, 62 percent of people in Italy, 60 percent in France, 42 percent in Spain, 45 percent in Germany, 37 in Britain, 32 percent in Denmark are finding it difficult to buy expensive fuel for vehicles in the last 3 months. The countries we are talking about are developed and prosperous countries but the situation there is worse than in India.

Apart from European countries, the situation in India's neighbouring country, Sri Lanka, is also bad due to inflation. People protested violently there and some even died in the violence. 

The condition of inflation in Pakistan is that the cost of 1 litre of petrol is more than Rs 220 and the cost of a dozen eggs is more than Rs 200. Inflation in Bangladesh has broken a 10-year record. The government there is troubled by the ever-decreasing foreign exchange reserves. But there is neither a problem of foreign exchange reserves in India nor has the situation worsened due to inflation.

Amidst the possibility of a recession in 2023, India is projected to be the fastest-growing country in the whole world. Therefore, India's position above Pakistan, Bangladesh and Sri Lanka in the Hunger Index is an extension of the foreign agenda.

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