Recession is a result of lack of demand in economy. This may be either owing to over production of less purchasing power in the economy. So, factories stop or reduce production. Staff is also reduced or salaries curtailed.
G. K. Ajmani Tax consultant http://gkajmani-mystraythoughts.blogspot.com/
Gulshan ji has explained it very well. The recession effect has been seen in western countries more and due to that many companies and even banks were closed.
Actually our country Indian market is completely depend on US. as we work out US projects. So as they have less work and their charges also got reduced. so whole market was down. so recession started. Our Indians estimated that recession will effect us .but our market has been shifted UK. So there is no market down.So there is no effect of recession in our country
