Impact On Economic Recession In India

1404 Words6 Pages
IMPACT OF RECESSION ON EMPLOYMENT OPPORTUNITIES IN INDIA

Dr. Himanshu Joshi Dr. Bharti Jaiswal
Lecturer, Government Degree College
Narandanagar Assistant Development Officer,
Planning Department Uttarakhand

Recession
The term ‘recession’ broadly, refers to a period of economic slowdown. Recession is the result of reduction in the demand of products in the global market. Recession can also be associated with falling prices known as deflation due to lack of demand of products. Again, it could be the result of inflation or a combination of increasing prices and stagnant economic growth.

Recession in India
The world is experiencing an unprecedented economic slowdown. There seems to be no end to the US financial crisis till now. In the age of globalization, no country can remain isolated from the fluctuations of world economy. Global economic meltdown has affected almost all countries. Strongest of American, European and Japanese companies are facing severe crisis of liquidity and credit. India is not isolated, either. However, India’s cautious approach towards reforms has saved it from possibly disastrous implications. The truth is, Indian economy is also facing a kind of slowdown. The prime reason being, world trade does not functions in isolation. All the economies are interlinked to each other and any major fluctuation in trade balance and economic conditions causes numerous problems for all other economies.
Several crucial sectors of Indian economy have faced serious

More about Impact On Economic Recession In India

Open Document