Guest lecture on Global Economic Situation

The Department of Economics organized a guest lecture on ‘Global Economic Situation’ by Prof V Upadhyay on 28^th September, 2018 in the A.V. Hall from 11.15 am onwards. Prof Upadhyay began the lecture by talking about the international dimensions which donot depend on local conditions but on global issues. These global dimensions are  crude oil prices, foreign exchange rate, etc.  India is at the third position in terms of oil imports and consumption and is also a growing economy. He also discussed about the concept of Peak Oil, when the global production of oil reaches the maximum, and then gradually decreases. The  trade and BOP deficit is also worsening and this has an adverse impact on the foreign exchange reserves. He concluded by saying that all these global forces affect our economy significantly. The audience thanked him for this knowledgeable session.