Positive Effects of a Recession

Image Credit: Ecominoes

Fewer jobs, less money, and less, sense of security. These are all the ill effects, of recession, that majority of the people suffered across the world. But there is a good to learn even from bad things and bad experiences. So let us have a look at the positive effects of recession.

• Less Wastage:  When we have limited resources we learn to value them and to use them carefully. Because of recession, people have started focusing on the need aspect rather than want aspect. This results in less wastage and utilization of the resources to the best.

• Breaking gender barrier: Majority of men had to lose their jobs because of recession. So, the role play of the women from being limited to household duties, extend to earnings as well. And this resulted in increasing the confidence level and social status of the women.

• Benefits to the government: when people have enough money everyone prefers his own means of transport. But in the times of recession, preference has shifted from personal transport to public transport. This results in increase in the government revenue. And this in turn results in benefits to the public.

• Betterment of skills/change of profession: Necessity is the mother of all inventions. When people have no income source and are in bad need of money, they usually focus on sharpening their skills or focus on alternative and better sources of income.  

• Time to think: This is the right time to think about your life, and make necessary changes. You want to spend time with your loved ones or you want to give a new direction to your life change your goals and priorities. This is the time for all these changes.

So, when we learn good lessons even from bad times, we are on our way to progress and prosper.

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Pranab: India to analyze US Credit Downgrading

The finance minister Pranab Mukherjee said that the downgrading of top-tier credit rating in US has created a grave situation, on Saturday.

Major concerns for the investors those lose their confidence in the economy after Standard & Poor downgraded US government's AAA sovereign credit rating.

There is recession like situation reported in the country causing tumbling all major stock markets across the world.

In 2008, the world witnessed the global slowdown and recession period, in which two economies - Indian and China survived the blow.

The finance ministers remarks on the subject may rattle the investors further. The market reacted heavily to the global economic turmoil, BSE Sensex shed 14-month lower level by 2.19 per cent on Friday.

The BSE Sensex lost 387.31 points while the National Stock Exchange (NSE) lost 120.55 points.

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