Monday, April 27, 2009

Recession in India

In view of election highlights by political parties and media we all have forgotten the problem of recession/global meltdown. I think in view of coming election government did not presented the clear picture of global recession to the nation and by use of government machinery put the pink slip process on hold as happened in the case of Jet airways. As per my views all the big companies/organizations are under pressure from government not to fire their employees and after new governments formed in centre, it will officially declare the recession in India and then the actual process of firing / cost cutting in companies will start which will increase the unemployment and we all knows that these corrupt and greedy leaders in association with bureaucrats don't have any plans to provide means of survival to the unemployed talented youths.

Profits of all the major MNC's operating in India have declined in recent quarters due to downward trend in financial scenario of whole world. Various measures are already put in place by all companies to cut down their cost. The major arm of cost cutting i.e. reducing staff will start as soon as new government takes place and all the political parties will start blaming each others for these unemployment scenario.

So dear friends please make sure you save at least 20%-25% of your earning so that you have sufficient resources required in bad time (may god save all from these bad time). Update yourself, sharp your skills, increase your talent so that your career goes upward.

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