Recession - The word which is uttered thousands of times every day from TV shows to Tea shop bench for the past one year. Starting from CEO of a company to temple priest everyone suffers from recession. In this situation the reader may feel bad about me if I say the recession is positive. But it is. I will explain in this article.
So what is recession? Economy undergoes different life cycles, one of them is recession. In this period inflation is high, people standard of living will be relatively low, business people stop spending or expanding their business and most important thing is unemployment crisis. This is why we face tough situation during recession.
How does this affect many?
US started suffering from recession. The companies In US started conserving money by not spending money. In most of the case the Information Technology is the one of the most expensive investment for core business people. For example Banking, Airlines, Health care etc… apart from investing in their core business they invest on Information Technology for supporting their core business. So in order to conserve their money they first try to stop investing on IT even though it is the most valuable supporting department. Gradually US reduces employment in IT industry. Of course , non-US people would be sent to their home country. In this case most of the time Indians part is more. On-site Indians will return to offshore!!! . (On-site generally refers to people working in Indian companies for US companies in US , off-shore refers to working in Indian companies in India for US Company). Then what will happen to off-shore people ? in most of the scenario these people will be sent home straight away or will be put in bench.(Bench is getting salary by not doing any significant work for company). If somebody is not contributing for company obviously he will be a liability to that company hence will be sent home. This is an indirect way of pink slipping people. This process will down the software people. If software people get affected , consumer electronics – telecom industry – automobile industry – restaurant – cinema theatre – pubs and even temples get affected So people in all industry get affected. It is like a dead lock situation. Core businesses stop IT and IT stops core businesses. If one industry comes back then most of the industries will be back.
How recession will be boon ?
Above I mentioned the bad impact of recession, but if you scrutinize the things we can see recession is not a pit it is just a speed breaker. Speed breaker helps us to control our speed and avoids accident. The same way if the economic grows with high speed there must a speed breaker to protect the world from accidents such as inflation , rich-poor gap etc..
When economy is high, many people get easily placed and go for the job without motivation. For them job is not a great thing. On the other hand during recession, people get the job in difficulty and realize the importance of work. For them work will be worship!!!
In recession , people value money !!! This is most important thing.
During recession the rich-poor gap gets reduced. This is really an important attribute for the nation. If all are in same plane there will not be much law-breaking activities happen in nation.
Last but not least , recession is needed for the world. It should not continue for more than year. I Know whoever reads gets angry on me , I am sorry for this article. This article is written for showing the other side which is positive side of the ‘recession coin’
Thanks expecting comments !!!