Udhampur Campus, JU organises webinar on "Global Inflation: An Inevitable outcome in the Post-covid Period"
Jun 24, 2022
UDHAMPUR: Udhampur Campus, University of Jammu organised a webinar in collaboration with the University of Jammu Special Purpose Vehicle Foundation(UOJSPVF) and Udhampur Business Incubation and Innovation Centre under the Udhampur Campus Capacity Building Series (UCCBS) on the topic "Global Inflation: An Inevitable outcome in the Post-covid Period" under patronship of Professor Umesh Rai, Vice-Chancellor, University of Jammu and under the convenorship of Professor Parikshat Singh Manhas Rector, Udhampur Campus.
Prof. Vrajaindra Upadhyay (Adjunct Professor of Economics at IIT Delhi) was the resource person for the webinar.
Number of Participants including students and faculty members from different colleges and universities attended the webinar including MBA students & faculty from Chandigarh University, University of Jammu.
Prof. Vrajaindra Upadhyay started the webinar by discussing the different reviews given by different national and international Economists on the reasons and inevitability of global inflation.
Prof. Upadhyay said that inflation especially food and energy prices spiralled. He explained the current global inflation in the context of both developed and developing countries.
UK's inflation soared to a 40-years high of 9 per cent in the consumer price index in April 2022- the highest since records began in their current form in 1989.
In India, the consumer price inflation in April at 7.79 per cent was the steepest rise since the 8.3 per cent recorded in May 2014.
He also explained that food and petroleum prices are increasing at an unprecedented rate worldwide, triggered by two years of pandemic-induced disruptions and now the Russian -Ukraine war.
Further, he also explained how much inflation can be attributed to pandemics? And how much is due to war? He stated that massive inflation is mostly the result of the pandemic of the century.
Further, the speaker also discussed various tools of monetary and fiscal policies taken by the government to control the present high inflation.
Besides other than monetary and fiscal policy he also explained other ways to curb the situation so that it affects the most vulnerable population as little as possible.
A vote of thanks was presented by Dr. Shilpa Gupta, coordinator of the event.