The Known Unknown

The impact of heatwaves on the Indian economy is a significant issue that affects the GDP and  day-to-day lives of 22 crore Indians. The discussion includes potential remedies that have been adopted by other nations as a result of a United Nations event. Heatwaves caused by high temperatures have a detrimental effect on the economy. Various temperature thresholds determine what constitutes a heatwave in various Indian locations. The frequency and intensity of heatwaves in India are expected to increase due to climate change. Heat waves have a big effect on India's economy: Because labor-related employment employs 75% of India's workforce, heat waves cause productivity to decline. Individual productivity is reduced by 5 to 10% during heatwaves, which can lead to an annual loss of up to 4.5% of GDP. India is experiencing heatwaves that are badly harming the country's economy. Rich countries tend to be colder than poor countries, which negatively impacts wealth and labor. The

UK is experiencing a serious economic crisis for several reasons A crisis related to the expense of living: The British pound depreciates to its lowest level ever about the US dollar. Food costs are rising, and gas and electricity rates are significantly rising as the UK experiences double-digit inflation, which is at a 40-year high. A mini-budget was introduced to solve the energy and economic crisis that has caused record-high gas prices in the UK. The lack of gas storage has caused excessive energy prices, which affect inflation and production.  Power businesses are facing severe financial hardship due to the price cap, which was implemented at 280 pounds per megawatt hour. The UK government raised the energy price cap by 175% to 520 pounds per megawatt hour. Even if energy costs rise for the next two years, the price cap will stay at 520 pounds per megawatt hour. The impoverished sections of the UK population are disproportionately impacted by the rise in comparison to the wealthy.

 A world currency is any money that can freely be used or exchanged for another currency inside or outside the borders of the country that issues it. It may also be called as Global currency.  The Agreement of Bretton Woods The United States supplied the Allies with materials and weaponry prior to entering World War II. By the end of the war, the U.S. had the majority of the gold reserves since most nations made their payments in gold. As nations exhausted their stockpiles, a restoration to the gold standard was unachievable. In 1944, representatives from forty-four Allied nations convened in Bretton Wood, New Hampshire, to devise a framework for managing foreign exchange that would not put any nation at a disadvantage. The group determined that the world's currencies will now be fixed to the US dollar rather than gold. The Bretton Woods Agreement, as it was referred as, established the power of central banks to uphold fixed exchange rates between different currencies and the US do