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Impact of Global Recession on It in India

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Impact of Global Recession on It in India
Indian Streams Research Journal Vol - I , ISSUE - VII [ August 2011 ] : Economics

ISSN:-2230-7850

Article :GLOBAL RECESSION & IT’S IMPACT ON INDIAN ECONOMY Author :Mr.Sandeep Krishnat Raval[N.D.Patil Night College, Sangli] Dr.P.S.Kamble[Shivaji University,Klhapur] Abstract : This paper explains that there is serious imbalance in the world economy and this could have international effects. This paper analyzes the seriousness of this impeding adverse situation especially for developing countries and discusses weather as a consequences of this, a global recession is inevitable .this paper explorers global current account imbalance and evaluates different views on the causes and consequences of the imbalance.Finally,the paper discuss the various macroeconomic polices and shocks that might remedy the imbalances.

1.Introduction-

India got freedom in 1947 and started Economic Planning since 1951-1952. Due to Green Revolution in 1966-67 and the production of food grains increased in the country and consequently India became self-reliant in food grains in 197677.the country adopted LPG (Liberalization, Privatization, Globalization) Policy in 1991 due to financial crisis as a result all of this GDP of 9% could be achieved in 2007-08. However, in 2008 due to the recession in America American Economy totally collapsed and it had positive and negative effect on Indian Economy. There for it is necessary to study recession, recession characterized, causes, effect, suggestion etc… Almost everybody today seems to be discussing about the US Recessionary trend and its impact on emerging countries, more particularly India Economists, Industrialists and the common man on the streets seem to have been horrified by the very thought of recession in India and that too due to US. Decreasing industrial production, inflation, decreasing job opportunities, cost cutting, reducing purchasing power parity, et al are the aspects discussed among

Indian Streams Research Journal Vol -


References: 1. Global Recession and Its Impact on Indian Financial Markets; Nidhi Choudhari Manager Bank of India, Kolkata.Article. 2. www.scribd.com 3. www.dipity.com 4. Yojna Monthly 2008-2009 5. www.merinews.com 6. Dainik Pudhari 7. Dainik Sakal
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