Originally posted by: monu_tan
Too bad you don’t know the difference between Recession and Technical Recession.
But am happy we are discussing this.
Technical Recession is when country gdp growth goes down for 2-3 consecutive quarters and is a one off incident.
Due to COVID-19 , not only india but entire world faced slowdown in its economy.
However you should be glad to know that the next forecasted GDP growth of India is much higher than many Developed countries in the world and we are no more in recession or technical recession now.
There is a very optimistic view of India’s growth in next few years. With being the country with very high purchasing power to being in the top 3 economies of the world. Rest assured we are in safe hands at the moment.
Too bad, you sound absolutely desperate trying to deny absolute facts like the Kearney Index or Recession.
Recession: a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.
India is in RECESSION because GDP has contracted for 2 Q's straight. Just like India is out of the Kearney Index. Just like India has fallen below Bangladesh in per capita GDP. There's increased poverty, record unemployment & lack of foreign investment. Indian economy is in absolute shambles.
I can't argue with people who don't want to argue in good faith, bringing up 2018 rankings or trying to deny recession. So if you believe India is thriving, good for you. I hope your accountants/business managers can thrive your businesses just as much as Modi has done with India. 😆
Edited by aaditi123 - 3 years ago
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