Title: The recession, its impact and india’s response
Abstract: For the past year, the world has been facing issues of cash crunches, defalcations, job terminations and layoffs, pull out stakes, share market fluctuations as well as drastic product sales reductions due to the COVID-19 pandemic. These dynamics have decreased trust and created a chaotic situation with financial instability and political fluctuations. The unstable situation of a mismatch in demand and supply and its effects is called a recession. To understand the current dynamics of the Indian economy this paper delves into the concept of recession, its causes, the impact on individuals, Indian and global businesses, employment and society. It examines why India was impacted less by the recession of 2008-09 while the 2019-20 one has had a high impact. The paper also puts forth a strategy for reducing the effects of the recession and analyses it as a business opportunity for exploring new arenas.
Publication Year: 2020
Publication Date: 2020-01-01
Language: en
Type: article
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Cited By Count: 1
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