As a student of economics i am really curious to know what recession is?... you would shocked to know that i am doing ca n i still want to know the term "recession".
This word did not attract me until i heard from my lecturer that "western countries often face recession whereas in India it did not appear for decades".I remember in the year 2008, Indians faced recessions it was horrifying to learn that many engineers committed suicides because they lost jobs. losing jobs was a new concept for Indians during those days.
THIS BECAME MY POINT OF INTEREST.
Begining with economic trends, India being developing country should have adversly effected by recession n then depression. But it is not so..why?..
The secret lies in the culture.Indian economy is inbuilt.I salute to my ancestors.
We Indians have a unique way of celebrating festivals. oh!.. no not with wine or noise.Its with sweets,delicacies,perfumes, new dresses,decoratives n flowers.
All these are just a part of livelihood,you might be thinking whats that got to do with economy.
Firstly observe all those items used in the festivals.These cover up the huge part of market. People in the name of festival purchase all these items. Not many know that in India everyday there is festival the above mentioned items have become necessities.This has made the country a wide market in the world. Spending habits of Indians has made the country to grow in faster pace.
MORAL
start spending to keep the growth rate high.