IsItIcim

What exactly is a recession?Is it just a economic slow down or more than that.Recession is not just a slow down in economy,a problem which can be addressed in a period of time.But recession is even more a bigger problem.Recession is nothing but the decline in the gross domestic product(GDP) of a country for two or more quarters of a year.In the case of recession,the GDP of a country comes down drastically.What does recession do? When a particular country is hit by recession,

• ->The country faces huge economic down turn.
• ->The unemployment rate of the country increases drastically.
• ->The production in the industries is cut down.
• ->The inflation rate shoots up radically.
• ->And the biggest problem of all these is, people who are employed lose their jobs indefinitely.
• ->Still there are many impacts of recession,but these are some of the main problems.

And since the world is hit by recession now,The only expectation of all the people is,When is it going to end and normalcy prevails.It has shaped up as the single largest problem for the whole world.It all started from America, where people who borrowed money from banks failed to repay,which led to dept defaults. Due to defaults, the property prices fell and led to sale of property.Situation became even worse due to Lehman Brothers’ bankruptcy.Which left the inflation to shoot up and rest is history.

Now not only America is affected by recession,but the whole world is.Since every country is dependent on each other in one way or the other. India is no exception.But India is not facing a complete recession, but still there is economic slowdown,which also witnessed high inflation,but it has come down now.But still even in India there is increase in no. of. people losing their job day by day.NO industry has been spared, from IT to automobiles every industry has cut down on production.This is because of the decrease in the consumer’s spending.experts say recession would last from 6 months to 2 years.we can only hope that this problem is addressed sooner than later.