The present situation in India is bad. People are afraid of loosing jobs. Many have lost their jobs. Due to the recent economic downturn the economically booming India which was having a growth rate of around 9% every year is shaken. India is having all the symptoms of recession, but our home minister on recent addressing said that India is not in recession but it just facing a slow down. He also added that if a nation does not have any problems and growing at rate of 9% wouldn't need a government. He also said that India has some tough challenges to face but not recession. The growth of the nation will is clearly affected. Chidambaram also said that the government is also planning on a series of stimulus packages which would bail the country out of the current economic situation. Indian government is surely putting a brave face in the time of adversity. It’s important that we should prepare for recession and anticipate any impending problem and ensure welfare to the people.
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