Recession synominously we can say the great fall of Lehman Brothers & subsequent fall of its other cousins across the world. Once it fell down like an old log of tree all the small & big trees underneath it, also got out of their roots or got injured and lost their major processes & operations. But the question is that why trees or countries which are not in direct touch with this giant started panick. The domino effect can be seen on all the sectors & industries whether its energy industry, services sector or any other. But the funny thing which happened across the globe is that the word "recession" is so much on tongue of every person whether its a nukkadwala, chaiwala, CEO, professors, students etc. I have came across this funny thing very often for example, whenever a person is asked for some favor or treat or anything which involves their outlays they simply use the excuse of recession. I know that condition outside is very worst that nobody is getting job after getting such expensive degrees which they bought by taking loans and for which they have to pay hefty EMIs. Sorry, for my word bought but its true, if you look out the quality of education every institution is interested in making their business profitable being the fact that they are non-profitable organizations. No one is interested in giving quality education to students, teachers are interested in doing their jobs instead they have to teach students. Everybody is saying that we are not giving jobs because of recession, I am not eating because of recession, I am not sleeping because of recession even if somebody got fever the reason is recession. Let me show you the true picture, India has never been got trapped into recession, thanks to RBI & SEBIs proactive and good decisions. Another reason India didn't faced direct recession is because peopel here are more sensitive and savings oriented. Till now only 2-3% of Indian population invested in stock markets or other like instruments, rest of the population are still confortable in putting their money in fixed deposits. Corporates uses this time as an opportunity because they are laying off their unproductive people and hiring the experienced one in less salary. In India the only recession is in the minds of people, its just psychological recession and lack of confidence among corporates. Its the recession of trust & confidence because we have seen the satyam's asatyam raga. Banks are sitting on heap of money but they are not lending because of fear of losing all. Corporates have huge money, for example they are transferring their offices and opening subsidies in countries where real estate rates are very cheap. Everyone is confused these days what is happening and why it is happening e.g., nobody knows the reason behind stocks rally or nobody knows when inflation is in decimals i.e., 0.3% then why the prices of goods are still high. Well nobody knows anything.
After this another question arises what to do then? Simple answer is start trusting people, be patient because if we are in the trough phase of cycle then definitely we will come into crest phase also putting simply, we will definitely see the positive side of the hedge where everything is far better than what it used to be earlier. And, if I forecast the things will be rosy again by October 2009, just keep faith in God, keep doing the work with similar pace as it is used to be earlier, and at the end keep smiling!!!
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Deepak wt u have written is absolutely true. even i consider that there is no recession. The word is hype like anything......it's true that we should take things very normal n rest depends on the mentality of the people. very nicely quoted n written...... m really impressed
ReplyDeletei wd certainly agree with u, recession is being misunderstood. Most corporates has got an oppertunity to cut down their costs, but for few sectors the impact of recession is considearably high. U can track record of IT sector, Banking Sector, Autosector these are few which are under high impact of recession.
ReplyDeleteAnd the real pictures of world's largest economies are worst they are not in recession but they hav entered into depression phase.
But u hav pictured recession very well, it is time for patience and trust not creating panic.
hey Deepak. I wd agree to most of wat u hv written here. the 'bought' thing dat u hv brought into picture here as v may agree dat education hs bcum d biggest way of creatin bucks 4 institues which r budding like anything.
ReplyDeleten den dis 'recession' thing. something dats in d minds of corporate ppl has created so much of furore dat even less-provided ppl ,not exactly knowing d meaning or d cause of it, hv it stuck on dere tongue.
n India s 1 country which s nt heavily affected. bt still d effect s exagerrated 2 get d same wrk done 4 a lesser cost. n wat else can employees do other den clinging on dere jobs.
n v hv bcum one of d sufferers of dis 'inflating' recession as well.