Have been reading in the news that India is on the brink of recession with high inflation and low liquidity in market . Price of onions and potatoes have skyrocketed . But my friends in India are going on foreign trips every few months and posting pics with inspirational quotes. What is going on ? And what will be the long term impact .
You moron, recession is not in IT which is based on US economy. IT gets better when INR fall against dollar.
Majority does not derive income from IT.
You need new friends who don't post shit to show off their superficial lifestyle
Onion price increasing is actually a good thing...
How? It does affect the middle and poor class. May not affect the software guys.
It helps the farmers. Please, let go of this onion obsession.
Salaries in India have gone up is what's happening.
Isn't India always been under recession?
Yes, the economy is completely ruined by an irresponsible and inexperienced political party (BJP /modi) who is currently at the helm. They demonitized a major chunk of currency which the middle class depended on plus introduced GST which further crippled all small businesses. I know many direct reports of small businesses shutting down due to GST and demonitisation. Only software industry is safe.
Primary reason for them shutting down is that these shops evaded taxes. I'm glad they did.
Evading taxes is very common in India. Since introduction of GST most of the business are now closing, as their margins have gone down coz they have to pay taxes.
No there isn't a recession. India is a consumption based economy. And because of the GST, emissions reforms, demonetization etc the people are faced with a speed of policy changes that is 5 or 6 times the average. This caused a lot of hiccups in a lethargic red taped system. Overall they tried to overtax the big companies which drove away some FDI. But overall its obviously still a solid growth story (in comparison to others)
There is a recession among the middle class not connected with IT and construction hardware industry. All such families are complaining. This can be evident from the highest joblessness witnessed in india. Its coming closer to the American depression of 1929.
KV Kamath could be appointed Finance Minister. If this indeed happens, and he's given power to operate, you can see the 7+% GDP growth you millennials are used to seeing, in a couple of years.
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